The FTSE MIB started the week little changed, closing at 45,719 on Monday as renewed concerns over US Federal Reserve independence and rising geopolitical tensions weighed on sentiment. US federal prosecutors opened an investigation linked to Fed Chair Jerome Powell’s testimony before the Senate last June, a move Powell described as part of President Trump’s ongoing pressure on the central bank to cut interest rates. Risk appetite was further unsettled by escalating tensions around Iran, after Trump said on Sunday that potential actions against Tehran were under consideration, alongside remarks about Greenland that added to policy uncertainty. Stellantis led the declines, falling 4.3% after abruptly scrapping its North American plug in hybrid lineup, a decision that signalled weaker demand and undermined confidence in its growth and electrification strategy. Other notable decliners were Italgas (-2.5%), Nexi (-1.9%), Prysmian (-1.7%), Stmicroelectronics (-1.4%), and Snam (-1.3%).