The FTSE MIB opened flat around 52,800 on Monday, remaining close to record levels, as investors continued to monitor developments on US–Iran peace talks. Reports indicated that both sides had agreed on a roadmap toward a final deal within 60 days, easing market concerns after recent exchanges of military threats over the Lebanon conflict and prompting oil prices to resume their decline. Regulated utilities led losses, including Poste Italiane (-3.4%), Snam (-3.7%), and Terna Rete Elettrica Nazionale (-3.6%). Other notable laggards included defence stock Leonardo (-0.8%) and luxury group Moncler (-1.4%). On the flip side, gains were seen in Tenaris (+1%), STMicroelectronics (+2.3%), as well as some banks, including BPER Banca (+1.1%) and Unipol Gruppo (+1.6%).