The FTSE MIB fell to around 51,800 on Tuesday, as rising oil prices weighed on markets amid elevated tensions in the Middle East. Higher crude prices fueled inflation concerns and strengthened expectations that central banks may need to keep interest rates elevated, with the ECB widely expected to raise borrowing costs later this week. Losses were broad-based, with financial stocks among the worst performers. UniCredit fell 1.3% despite receiving ECB approval to use the Danish Compromise on its insurance holdings. Its peers Assicurazioni Generali, Unipol Gruppo, Banca Mediolanum, and MPS also fell more than 1%. Technology and utilities shares were also under pressure. On the flipside, Poste Italiane rose 0.5% after raising its takeover bid for Telecom Italia, whose shares climbed nearly 3%. Lottomatica also extended its rally after providing additional details on its planned merger with Spain’s Cirsa. Energy giant Eni rose more than 1%.