FX.co ★ FTSE MIB Flat Amid Tariff Concerns

On Monday, the FTSE MIB closed virtually unchanged at 40,107, outperforming other European markets that experienced declines following former President Trump's announcement of a 30% tariff on EU imports, scheduled to take effect on August 1. Italian banking stocks led the index, buoyed by recent consolidation activities. Shares of Banca Popolare di Sondrio surged 5.6%, BPER Banca climbed 5.5%, and Banco BPM was up by 4.8%. BPER successfully completed its €5.44 billion acquisition of Popolare di Sondrio. Banco BPM also saw significant gains due to merger speculations, with Credit Agricole looking to increase its stake beyond 20% and UniCredit's offer receiving conditional approval from the EU. Iveco posted a 2.1% rise, while STMicroelectronics, Stellantis, Moncler, and Nexi experienced declines.