The FTSE MIB Index Closes 1.03% Lower

The FTSE MIB Index fell 479 points or 0.95 percent on Friday to close at 50027 points. Leading the losses are Nexi (-4.50%), Banco BPM SPA (-3.15%) and Bper Banca (-2.68%). Top gainers were Tenaris (2.97%), Buzzi Unicem (1.90%) and Amplifon (1.32%).

Milan’s FTSE MIB closed 0.9% at 50,053 on Friday, extending losses as a global equity selloff fueled by concerns over tighter AI regulation in the US weighed on risk sentiment. Weakness in financials weighed most on the benchmark. MPS fell 0.5% despite beating expectations with third-quarter net profit of €543 million as Intesa's (-1.4%) bid remains in focus. Italy's antitrust has broadly accepted the takeover, adding "a few duzen more" branches of the Tuscan lender would need to be disposed. Banco BPM lost 3.2% despite its growing results, while Generali declined 1.9%. Energy shares tumbled, with ENI falling 1.2%. Other notable laggards include Nexi (-3.6%) and Campari (-1.6%). Defense Leonardo (-2.6%), Avio (-2%) and Fincantieri (-1.6%) extended their decline. Bucking the trend, tech stocks staged a partial recovery after yesterday's plunge, with STMicroelectronics (1.5%) and Technoprobe (1.3%) advancing. Despite Friday's losses, the benchmark rose around 1% over the week.

The FTSE MIB Index dropped 525 points or 1.03 percent on Thursday to close at 50506 points. Losses were led by STMicroelectronics (-9.44%), Technoprobe (-8.75%) and Fincantieri (-4.65%).