By 1:05 p.m., the Ftse Mib index was down 1.93%, hit by the technical impact of dividend payouts from 22 blue-chip stocks—more than half the basket—which accounted for a 1.51% drag on the index.
Stripping out this effect, the Milan bourse is trading in line with other European benchmarks and U.S. futures.
The weekend escalation involving drone attacks and renewed tensions in the Gulf region has heightened fears that the conflict, now in its 80th day and 41 days since the start of the truce, could be prolonged.
Rising oil prices further dampened sentiment, while the global bond sell-off intensified following inflation data from the United States, Europe, and Asia.
Against this backdrop, the heaviest pressure on equities is being felt by automotive, industrial, and banking stocks, reflecting both the impact of high energy costs and deteriorating growth prospects.
Today's stock highlights:
** At the bottom of the list among stocks trading ex-dividend, BUZZI lost 3.4%, LOTTOMATICA 2.2%, AMPLIFON 2.1%, AVIO 1.89%, and BPER 2%, with the latter downgraded to 'hold' from 'buy' by Deutsche Bank.
** In the automotive sector, STELLANTIS shed 2.3% ahead of next Thursday's investor day.
** Oil stocks saw buying interest tracking gains in crude prices. ENI and SAIPEM, also on today's ex-dividend list, rose 2.56% and 1.85% respectively.
** AZIMUT also showed strength, gaining 2.3% on its ex-dividend date.
** Among small caps, FIDIA soared as the top performer on the Milan exchange, jumping approximately 130%. This followed Friday's earnings report announcing a return to positive EBITDA and profitability, alongside an update to its 2026-2028 industrial plan.
** TECHNOPROBE also shone, rising 5% after BofA Global Research upgraded the semiconductor specialist to 'buy' from 'neutral' with a target price of 38 euros. The company specializes in the design and production of probe cards, critical components used in chip testing.
(Andrea Mandalà, editing Antonella Cinelli)
