FTSE MIB Slides to Over 2-Month Low
The FTSE MIB dropped over 2% to approximately 41,400, marking its lowest point since early August. This decline reflects a global equity sell-off linked to concerns about US regional banks and credit risks. Major financial stocks like UniCredit and Intesa Sanpaolo faced significant losses. Additionally, defense stock Leonardo fell over 3% amid geopolitical tensions. Other notable declines included Ferrari and STMicroelectronics, exacerbated by rising US-China trade tensions.
The FTSE MIB fell more than 2% to around 41,400 on Friday, hitting its lowest level since early August, mirroring a global equity sell-off driven by emerging signs of strain in US regional banks and raising concerns over broader credit risks.
Index heavyweight financials were the hardest hit, with sharp losses from UniCredit (-3.1%), Intesa Sanpaolo (-2.5%), Mediobanca (-2.6%), Bper Banca (-3.3%), and Banca Mediolanum (-3.1%).
Defence stock Leonardo also slid over 3%, ahead of a high-level meeting in Hungary between US President Donald Trump and Russian President Vladimir Putin on developments in Ukraine.
Other key stocks in the index also declined, including Ferrari (-2.5%), Assicurazioni Generali (-2.1%), Poste Italiane (-2.5%), Prysmian (-2.6%), and STMicroelectronics (-2.4%).
Adding to market weakness were intensifying US–China trade tensions, after China recently accused the US of stirring “panic” over its rare earth mineral controls.
