The FTSE MIB dropped 2.5% to close at 39,943 on Friday, tracking losses across Europe after Donald Trump announced higher tariffs on several countries, most to take effect on August 7th, while duties on imports from the EU were confirmed at 15%. The move heightened trade tensions and weighed on investor sentiment. Meanwhile, Eurostat’s flash estimate showed eurozone inflation held steady at 2% in July, with food, alcohol, and tobacco expected to see the highest annual rise at 3.3%. On the corporate front, Campari (+7.9%) led gains in both the FTSE MIB and STOXX 600 after reporting a 2.9% increase in Q2 adjusted operating profit. In contrast, FinecoBank sank 5.8% following a 4.8% drop in EPS. Intesa Sanpaolo (-5.6%), Banca Popolare di Sondrio (-4.5%), and Saipem (-4.7%) also closed sharply lower.