The FTSE MIB fell 1.7% to 42,047 on Friday, pressured by weak industrial data and corporate losses. Italy’s industrial production dropped 2.4% in August, the steepest decline since December, erasing recent gains. Stellantis slumped over 7% amid French political turmoil, while Ferrari extended losses to -2.8% after Thursday’s 16% drop on weak long-term targets. Tenaris fell 5.2% after a downgrade, and Leonardo lost over 4% as defense stocks declined following a Gaza ceasefire. Brunello Cucinelli dropped 4.5% amid a Russia-related probe. Banking shares retreated, with Azimut -3.3%, UniCredit -1.7%, and Intesa -0.5%, while Eni slid 3% on weaker oil. Late-session sentiment weakened further after President Trump threatened a “massive increase” in tariffs on Chinese goods, raising trade war concerns. On the other hand, utilities outperformed, with Enel, Terna, and Snam up about 1%.