Italy’s FTSE MIB Finally Recoups Declines Since Financial Crisis

Italy’s equity benchmark surpassed its 2007 peak, becoming the last major European index to reclaim declines triggered by the global financial crisis.

The FTSE MIB Index — home to banks such as UniCredit SpA and defense firm Leonardo SpA — gained as much as 1.1% to 44,372.74 points on Tuesday, rising above a peak of 44,364 points hit in May 2007. The gauge is now trading around the highest level since 2001.

Italian stocks have finally been in favor this year as investors flocked to sectors exposed to the domestic economy in an attempt to escape harsh US tariffs. The ...