Italian Stocks Retreat Slightly on Bank Losses

The FTSE MIB inched down by 0.1% to close at 46,652 on Tuesday, underperforming other European benchmarks as sharp losses for banks offset a positive session for other sectors. The US started enforcing 10% tariffs on the EU under its new scheme, below yesterday's threat of 15%, but still prompting the EU to freeze ratification of its US trade pact over the weekend. Financials lagged, with UniCredit down 1.3% and Intesa Sanpaolo falling 1.7%. On the other hand, Ferrari gained 4% to erase losses from yesterday and TIM inched higher ahead of its earnings

The FTSE MIB Index fell -60 points or 0.13 percent on Tuesday to close at 46639 points. Leading the losses are Bper Banca (-2.76%), Banco BPM SPA (-2.38%) and Banca Monte dei Paschi di Siena (-2.28%). Top gainers were Ferrari NV (4.41%), Leonardo SpA (2.14%) and Pirelli (1.92%).

The FTSE MIB fell 0.5% to around 46,450 in early trading on Tuesday, ending a two-day gain amid renewed trade concerns after US President Trump's new 10% global tariff went into effect today. On Monday, Trump warned that higher tariffs could be imposed on countries that “play games” with recent trade agreements. His warning comes as the EU froze the ratification of its trade deal with Washington, while India also postponed scheduled talks with the US. Financial stocks led the market downturn, with notable losses in UniCredit (-2%), Intesa Sanpaolo (-2.2%), Banco BPM (-1.8%), BPER Banca (-2.7%), and Banca Monte dei Paschi di Siena (-2.1%).