FTSE MIB Gains 0.9% to Near 49,950 as Oil Drops on US-Iran Diplomacy

Milan Bounces Back

The FTSE MIB closed Monday, 2 November 2026 at about 49,948, up roughly 0.9%, recovering most of Friday's loss.

What drove it

• Oil fell sharply on hopes for US-Iran peace talks, easing inflation and energy-cost worries for European companies.
• Banks led the gains (see our separate story).
• Enel jumped after presenting its plan to 2028.

Levels to watch

The index is closing in on the round 50,000 mark. Round numbers often act as resistance the first time a market reaches them.

What's next

Investors are watching the US midterm elections and more company earnings this week.

Sources report slightly different closes (49,947.94 vs 49,948); check Borsa Italiana for official figures. Educational content, not investment advice.