FTSE MIB Declines on Industry Drop and Corporate Losses
The FTSE MIB dropped 1.7% to 42,047, influenced by weak industrial data and corporate losses. Italy's industrial production fell 2.4% in August, the largest decline since December. Notable declines included Stellantis (-7%), Ferrari (-2.8%), Tenaris (-5.2%), and Leonardo (-4%). Banking shares also retreated, while utilities like Enel and Terna saw gains. Concerns over a potential trade war escalated after President Trump's tariff threats on Chinese goods.
The FTSE MIB fell 1.7% to 42,047 on Friday, pressured by weak industrial data and corporate losses.
Italy’s industrial production dropped 2.4% in August, the steepest decline since December, erasing recent gains.
Stellantis slumped over 7% amid French political turmoil, while Ferrari extended losses to -2.8% after Thursday’s 16% drop on weak long-term targets.
Tenaris fell 5.2% after a downgrade, and Leonardo lost over 4% as defense stocks declined following a Gaza ceasefire.
Brunello Cucinelli dropped 4.5% amid a Russia-related probe.
Banking shares retreated, with Azimut -3.3%, UniCredit -1.7%, and Intesa -0.5%, while Eni slid 3% on weaker oil.
Late-session sentiment weakened further after President Trump threatened a “massive increase” in tariffs on Chinese goods, raising trade war concerns.
On the other hand, utilities outperformed, with Enel, Terna, and Snam up about 1%.
