Stocks in Italy Hit 21-week Low

The FTSE MIB Index dropped 356 points or 0.72 percent on Thursday to close at 49398 points. Losses were led by Technoprobe (-11.42%), Saipem (-4.34%) and STMicroelectronics (-4.05%). Offsetting the fall, top gainers were Telecom Italia (1.87%), Leonardo SpA (1.79%) and Ferrari NV (1.71%).

Milan's FTSE MIB fell 0.7% to 49,398 on Thursday, extending losses as heavyweight financials and tech stocks remained under pressure. Chip stocks plunged as signs of persistent inflationary pressures increased expectations of elevated borrowing costs for longer and raised concerns over capital-intensive sectors, particularly the AI buildout. Technoprobe plunged 10.3%, while STMicroelectronics also fell sharply by 3.8% and Prysmian by 3%. Financials also tumbled, as higher borrowing costs weigh on credit demand. UniCredit lost 2.1% while it looks to reduce the risk of its target Commerzbank on €1 billion worth of German mortgages by transferring part of that risk to other investors. Fincantieri fell 1.3% as the firm is in the process of integrating AI in its shipyards. Leonardo rose 1.9% as geopolitical tensions continue to increase. Utilities extended gains while European gas prices declined, led by Snam (1.3%) and Terna (1%).

IT40 decreased to 49068.00 Index Points, the lowest since May 2026. Over the past 4 weeks, Italy Stock Market Index (IT40) lost 5.5%, and in the last 12 months, it increased 15.9%.