The news reinforces market expectations, already partially priced in during the early session, of potential new negotiations between the U.S. and Iran over the weekend, as hinted at by U.S. President Donald Trump.
As of 3:25 p.m., the FTSE Mib is up 1.7%, a gain well-supported by a breakout in banking stocks, though tempered by a sharp decline in oil majors following a 9% collapse in crude prices.
In this context, and in line with losses across the European energy sector, ENI is shedding 6% while SAIPEM is down 4.7%.
Luxury stocks are also surging across continental benchmarks. In Milan, CUCINELLI is up 4.4%, FERRAGAMO has gained 5.9%, and MONCLER is trading 2.6% higher.
(Andrea Mandalà, editing Gianluca Semeraro)
