The FTSE MIB gained 1.7% to close at 49,182 on Wednesday as progress in US-Iran negotiations helped ease lingering inflation concerns and improved broader risk appetite. In the latest diplomatic effort, Pakistan’s interior minister arrived in Tehran, with Pakistan acting as a mediator after hosting peace talks last month. Oil prices retreated, although they remained above $100 per barrel. The decline in crude prices supported financial stocks, with UniCredit rising 2.6% and Intesa Sanpaolo gaining 2.8%. STMicroelectronics climbed 6% ahead of Nvidia’s earnings release later in the day, as investors awaited fresh signals on AI demand and the semiconductor outlook. Leonardo added 2.4% after announcing a contract with Abu Dhabi Ship Building to supply naval combat systems to the Kuwaiti navy. In contrast, Eni fell 1.3% as oil prices moved lower.