The FTSE MIB rose to around 41,560 on Friday, extending its gains to a fifth consecutive session and moving closer to multi-year highs. The index was on track for a strong 4% weekly gain, its best performance since mid-April. This week's advance was driven by upbeat corporate earnings and renewed optimism over a potential breakthrough in the Ukraine–Russia conflict. Markets also responded to shifting global trade dynamics following the implementation of President Trump’s broad retaliatory tariffs on Thursday. Meanwhile, expectations for Federal Reserve rate cuts have gained traction in recent days. On the corporate front, most major stocks traded in positive territory, with notable gains from UniCredit (+1.2%), Leonardo (+1.2%), Banco BPM (+1.4%), Davide Campari-Milano (+1.6%), and Stellantis (+1.2%). In contrast, Unipol Gruppo was the top laggard, falling more than 3%.