The FTSE MIB index lost 0.6% to close at 39,948 on Thursday, as US President Donald Trump announced plans to send unilateral tariff letters to major trading partners in the coming weeks, dampening optimism previously lifted by US-China trade talks. Rising tensions in the Middle East added to market uncertainty and pushed oil prices lower. On the corporate front, Brunello Cucinelli (-3%), Stellantis (-2.7%), and Ferrari (-2.7%) posted notable losses, while Eni (+1.5%), Saipem (+1.2%), and Hera (+1%) led the gainers.