Wall Street index futures also slipped into negative territory after Iran stated that its enriched uranium must not be transferred abroad, signaling a hardening of Tehran's stance on one of the primary U.S. demands in the peace talks.
Meanwhile, amid the Middle East crisis, the European Commission has cut its growth forecasts for the Italian economy for 2026 and 2027, while simultaneously worsening deficit projections, which are nonetheless expected to remain narrowly below the 3% ceiling.
Around 12:50 p.m., the FTSE Mib index is down 0.6% on volume of approximately 1.4 billion euros.
Stock highlights:
** Banks are the first to feel the impact of the deteriorating geopolitical climate, with the sector index falling 2.3%: UNICREDIT is down 3.1%, while INTESA SANPAOLO sheds 2.3%.
** GENERALI remains resilient (+1.6%), though off its highs, after reporting quarterly results this morning that beat expectations and confirming its year-end targets, bolstering investor confidence in the full-year outlook.
** AVIO continues its ascent (+4.9%), marking its third day of heavy buying following the successful satellite launch using the Vega C rocket.
** FERRARI is trading up 1.56%, while STELLANTIS, after a strong start, has dipped 0.4% ahead of its Capital Markets Day.
** DIASORIN remains weak (-2.6%), continuing to react to the 2030 industrial plan announced yesterday. Analysts view the long-term targets as in line with expectations, but focus has shifted to this year's challenges, particularly given the stock's recent strong performance.
** Among small caps, CAREL INDUSTRIES is down 6.4%, moving toward the price of the ABB completed by Athena for a 5% stake at 30.10 euros per share.
** PLC has slumped over 14% after Lizard Renewables reached an agreement to purchase a controlling stake, which will trigger a mandatory tender offer aimed at delisting the company.
(Claudia Cristoferi, editing Andrea Mandalà)
