Italy: FTSE MIB Decline.

Milan’s FTSE MIB fell over 1% to around 49,500 on Friday, snapping a five-day winning streak as weakness in technology stocks weighed on the index. Concerns over returns from massive AI-related spending pressured global technology shares, with Technoprobe plunging 5.5% and STMicroelectronics dropping 3.9%. Tech-related firm Prysmian also fell 2.8%. Amplifon tumbled more than 12%, despite stronger third-quarter adjusted profitability, as weaker nine-month reported net profit weighed on sentiment. Automaker Stellantis slid 3.3%. Banks also traded lower, with UniCredit down 1.6%, BPER Banca falling 1.4% and Intesa Sanpaolo shedding 1.2%. On the upside, Campari gained 2%, Inwit advanced 1.1% and Eni rose 1.3%. The benchmark remained on track for a weekly gain but was heading for a second consecutive monthly decline.