The FTSE MIB rose 1.2% to close at 41,234 on Tuesday, outperforming other European indices to its highest in eighteen years amid gains in the heavy-weight financial sector. Intesa Sanpaolo and UniCredit added more than 2% each, tracking major banks in Southern Europe. Also, BPER Banca jumped 5% after completing the acquisition of Banca Popolare di Sondrio and entering the integration phase, lifting the latter by 3%. Also, Iveco gained nearly 5% after confirming it is in “ongoing, advanced” talks for two separate deals involving its defense unit and core business. On the trade front, broader sectors recovered from losses yesterday as US officials noted there is still more to negotiate in their trade deal with the EU by Friday, particularly metals and chips. In turn, Stellantis inched higher despite posting a net loss of €2.3 billion in the first half of the year.