Italy: FTSE MIB Rises as Oil Surge Lifts Eni.

The FTSE MIB rose 1.2% to close at 44,887 on Tuesday amid gains of energy related stocks as oil quotes saw a new uptick. Oil prices climbed after fresh Iranian attacks on the United Arab Emirates rekindled supply fears, adding to ongoing shipping disruptions through the Strait of Hormuz. Eni and Tenaris gained 3.6%. Meanwhile, the European Central Bank is expected to keep interest rates unchanged at it's meetings this week. The BTP-Bund spread narrowed, and financial stocks posted gains. Intensa Sanpaolo was up 1.1%, while MPS advanced 2.1% and BPM gained 1.5%. Also, UniCredit (+0.5%) cranked up the pressure on Commerzbank to accept merger talks on Monday with a low-ball ?bid to raise its stake in the German lender above 30%. The German government says hostile takeover of Commerzbank would be unacceptable. Commerzbank CEO Bettina Orlopp said that the offer was "very low" and complained that the Italian bank was keeping it in the dark on ?its vision for a tie-up.