Italian Stocks Tumble, Post Weekly Gain

2026-10-30 16:49 By Larissa Caser 1 min. read

Milan’s FTSE MIB closed 1% lower at 49,501 on Friday, snapping a five-day winning streak, weighed down by weakness in tech shares.

AI-relates stocks tumbled, tracking its peers in the US in a renewed selloff across the sector.

Technoprobe (-9%), STMicroelectronics (-5.3%) and Prysmian (-3.9%) all fell sharply.

Stellantis fell 1.9%.

Amplifon plunged 14.5% as it failed to revise its guidance upwards, although its quarterly results were broadly in line with expectations.

Financial stocks remained focused on MPS's (-0.7%) shareholder meeting on Thursday, where the dual takeover bid was rejected alongside Mediobanca's bid.

Unicredit, BPER Banca, Intesa and Banca Medionalum all fell over 1%.

Avio also fell sharply by 3.3%.

On the other hand, energy firm ENI rose 0.9%, tracking higher oil prices.

Utility distributors Snam, Italgas and Terna all advanced 0.7% as European gas prices rose.

Luxury stocks also rose, led by Moncler (2.4%).

For the week, the benchmark rose by around 1.9%.



News Stream
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Italian Stocks Tumble, Post Weekly Gain
Milan’s FTSE MIB closed 1% lower at 49,501 on Friday, snapping a five-day winning streak, weighed down by weakness in tech shares. AI-relates stocks tumbled, tracking its peers in the US in a renewed selloff across the sector. Technoprobe (-9%), STMicroelectronics (-5.3%) and Prysmian (-3.9%) all fell sharply. Stellantis fell 1.9%. Amplifon plunged 14.5% as it failed to revise its guidance upwards, although its quarterly results were broadly in line with expectations. Financial stocks remained focused on MPS's (-0.7%) shareholder meeting on Thursday, where the dual takeover bid was rejected alongside Mediobanca's bid. Unicredit, BPER Banca, Intesa and Banca Medionalum all fell over 1%. Avio also fell sharply by 3.3%. On the other hand, energy firm ENI rose 0.9%, tracking higher oil prices. Utility distributors Snam, Italgas and Terna all advanced 0.7% as European gas prices rose. Luxury stocks also rose, led by Moncler (2.4%). For the week, the benchmark rose by around 1.9%.
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