Around 9:30 CET, the FTSE Mib was down approximately 1.2%, but the decline includes a 0.77% impact from dividend distributions.
The overall sentiment remains negative across Europe, with investors awaiting the outcome of negotiations between Iran and the United States in a volatile environment, shaped by daily statements from the parties involved and the intermittent opening of the Strait of Hormuz.
A direct consequence of this is the performance of crude oil, which is rising today, boosting energy stocks such as ENI and SAIPEM. Eni, which also announced a new gas discovery offshore Indonesia, is up 2.9%, while the oil services firm, which signed a contract with Eni to build the new Priolo biorefinery, is gaining 2%.
Banks are trading lower, with INTESA SANPAOLO down 1.8% and UNICREDIT falling 1.2%. The latter's CEO, Andrea Orcel, is currently outlining new details of his strategy to extract more value from Commerzbank. MPS is little changed.
Bucking the trend, FERRAGAMO is up 0.9%, off its initial highs, following the appointment of Fabrizio Freda as a new special strategic advisor for the luxury brand.
Trading ex-dividend today are Banca Mediolanum, Banco Bpm, Campari, Ferrari, Iveco, Mediobanca, Prysmian, and Unicredit, along with Anima and Maire outside the FTSE Mib.
(Claudia Cristoferi, editing Stefano Bernabei)
