FX.co ★ FTSE MIB Slides as Trade Concerns, Weak Consumer Confidence Weigh

The FTSE MIB index fell by 0.9%, closing at 38,748 on Friday, as it reversed gains from the previous session amidst ongoing cautious sentiment across European markets. Investors remained anxious in anticipation of forthcoming U.S. tariffs, which are expected to be implemented next week, heightening fears of escalating trade tensions and their potential repercussions on the global economy. Domestically, Italian consumer confidence dropped to its lowest point since November 2023, while business sentiment also slightly declined, contributing further to the overall cautious atmosphere. The financial sector led the market downturn, with significant losses recorded by Bper Banca (-2.6%), UniCredit (-2.5%), Intesa Sanpaolo (-1.9%), Banco BPM (-2%), and FinecoBank (-2.1%). Over the course of the week, the FTSE MIB experienced a 1.2% decline, reflecting the broader market uncertainty.