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The FTSE Mib index was up approximately 4%, trading just below the session highs reached at the open.
A two-week ceasefire between the U.S. and Iran has triggered a global equity market rebound.
KEY POINTS
- Brent crude futures fell about 15% to below $95 per barrel after the ceasefire announcement.
- Banking stocks on the FTSE Mib surged, with UNICREDIT up 8.5% and the sector index rising 7%.
- Oil sector stocks dropped sharply, with ENI down 8% and oil service companies also declining.
- Cement and engineering stocks rallied on expectations of post-war reconstruction, with BUZZI and WEBUILD up around 8%.
COMPANIES
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