The FTSE MIB index is currently trading higher, up 0.34% to 49,745.69 points, driven by rising consumer confidence in Italy, which saw its index climb to 93.4 in May. This positive sentiment, however, was somewhat tempered by mixed business confidence, with the overall Istat Economic Sentiment Indicator declining despite a slight increase in retail trade confidence. Geopolitical tensions, leading to a surge in oil prices after fresh US strikes in Iran, and expectations of an ECB interest rate hike also influenced the session, with bond yields edging higher.

The FTSE Mid Cap index is trading higher today, currently at 61,979.14 points, marking a +0.32% increase. This positive movement comes despite a broader global market dip, with the index likely buoyed by company-specific catalysts such as strong earnings and share buybacks, exemplified by Hollywood Bowl's recent jump and Pets at Home's improving sales momentum. Furthermore, weaker oil prices on the previous day and earlier hopes for US-Iran de-escalation may have contributed to a more positive sentiment for domestically focused mid-cap companies, alongside the ongoing global AI-driven equity rally.