Mib Downtrend; Euro Holds Firm Around EUR1.15

European markets mixed as energy sector rally tempers sentiment

Published on Mar. 6, 2026

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The Mib index is losing ground at midday on Friday, continuing the weakening trend already seen in the previous session, although losses are somewhat reduced. The ongoing rally in the energy sector is tempering sentiment across European markets. The macro-financial landscape remains fragile, with ongoing tensions in the Middle East continuing to pose a systemic risk factor for global energy markets, and no concrete signs of de-escalation emerging.

Why it matters

The recent spike in oil prices is fueling fears of renewed inflationary pressures, further strengthening expectations that the European Central Bank may maintain a more restrictive monetary policy stance, and pushing the euro to consolidate around the EUR1.15 level. Additional signs of stress are coming from the global energy supply side, with disruptions in the crude oil supply chain leading China to temporarily suspend exports of refined products and refineries in Japan asking the government for access to strategic oil reserves.

The details

On the Milan Stock Exchange, Amplifon is showing strength, rising 3.8% to EUR10.90 per share, rebounding after five consecutive bearish candles. Leonardo is also performing well, up 3.0% at EUR58.38 per share after a 6.1% drop in the previous session. STMicroelectronics is down 2.7%, after two consecutive sessions in the green and setting a new 52-week high at EUR28.68 per share. Banca Mediolanum – down 0.2% – reported its commercial results for February on Friday, with total volumes amounting to EUR1.62 billion and total net inflows standing at EUR1.29 billion for the month, bringing the year-to-date figure to EUR2.01 billion.

  • The Mib is down 0.2% at 44,506.04 points as of midday on Friday, March 6, 2026.

The players

Amplifon

A company whose stock is showing strength, rising 3.8% to EUR10.90 per share.

Leonardo

A company whose stock is performing well, up 3.0% at EUR58.38 per share after a 6.1% drop in the previous session.

STMicroelectronics

A company whose stock is down 2.7%, after two consecutive sessions in the green and setting a new 52-week high at EUR28.68 per share.

Banca Mediolanum

A company that reported its commercial results for February, with total volumes amounting to EUR1.62 billion and total net inflows standing at EUR1.29 billion for the month, bringing the year-to-date figure to EUR2.01 billion.

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The takeaway

The ongoing tensions in the Middle East and disruptions in the global energy supply chain are fueling concerns about renewed inflationary pressures, which could prompt the European Central Bank to maintain a more restrictive monetary policy stance and further strengthen the euro around the EUR1.15 level. The mixed performance of European markets, with the energy sector rally tempering sentiment, highlights the fragility of the macro-financial landscape.