The FTSE MIB Index Closes 1.62% Lower

The FTSE MIB Index fell -750 points or 1.62 percent on Friday to close at 45473 points. Leading the losses are Interpump Group (-16.56%), Bper Banca (-5.47%) and Banco BPM SPA (-4.23%).

The FTSE MIB fell 1.7% to close at 45,431 on Friday, marking a fourth straight session of losses, as a wave of artificial intelligence tool releases since late January fueled volatility in global markets. Logistics firms, insurers, index operators, software companies, and asset managers in Europe faced sustained selling pressure. Financials led the decline, with UniCredit down 3.8%, Intesa Sanpaolo losing 2.6%, and BPER plunging 5.7%. The luxury sector also weakened, as Ferrari dropped 2%. Utilities outperformed, except for heavyweight Enel, which fell 2.9%.

The FTSE MIB fell 0.5% to around 46,000 on Friday, extending its decline for the fourth consecutive session and mirroring moves across European peers, as caution dominated markets. The drop came as investors awaited key US inflation data that could influence expectations for the Federal Reserve’s next rate decision. Adding to the caution, investors questioned the long-term viability of heavy spending on artificial intelligence. Technology stocks and related shares were under renewed pressure, with Prysmian leading the decline, down over 4%. Nexi was also down 1%, and A2A shed nearly 2%. Some financials were also in negative territory, including Banco BPM (-1.1%) and Bper Banca (-1.6%), while luxury auto stocks Stellantis (-1%) and Ferrari (-1.2%) also fell. For the week, the benchmark index is on track for a muted performance.