The FTSE MIB edged 0.2% lower to 53,447 on Wednesday, as losses in auto and technology stocks outweighed gains in the luxury sector. Stellantis declined 1.8% after reporting earnings below analysts' expectations. STMicroelectronics fell 1.6% as chipmakers remained under pressure amid growing doubts over AI-related investment, while Prysmian lost 1.2%. Financials were mixed as investors assessed optimism surrounding a potential US-Iran agreement. UniCredit slipped 0.7%, while Mediobanca gained 1.5%. BMPS gained 1.6% after reports the Italian government would maintain a neutral stance on banking consolidation, fuelling expectations Rome could sell its MPS stake before Intesa Sanpaolo's (-0.3%) bid takes effect. Brunello Cucinelli led gains, rising 1.8%, as luxury stocks advanced after Chanel reported resilient revenue despite the broader industry slowdown. Campari rose 1.3% and Ferrari added 1.2%.