Italy: FTSE MIB Holds Near Record High.

The FTSE MIB rose 0.3% to close at 52,849 on Friday, staying near record highs as gains in the energy sector supported the index. Markets remained focused on developments in the Middle East after planned follow-up US-Iran talks in Switzerland were canceled, adding fresh uncertainty to the diplomatic outlook. The news pushed oil prices modestly higher and lifted energy-related stocks, with Eni up 2.4%, Tenaris rising 2%, and Prysmian gaining 3.7%. Defense stocks also advanced on geopolitical concerns, with Leonardo up 1.7%. Financials traded mixed as energy-driven inflation concerns resurfaced, with UniCredit down 0.7% and Banco BPM losing 0.8%, while Intesa Sanpaolo added 0.4% and Generali gained 0.5%. Luxury stocks weakened on higher risk aversion, with Ferrari down 1.9% and Moncler falling 1.7%. Meanwhile, Pierre Wunsch said the European Central Bank may raise interest rates again next month if inflation continues to broaden.