The FTSE MIB fell 0.3% to close at 42,918 on Friday, tracking global market losses as investors questioned the sustainability of the recent rally in artificial intelligence stocks. STMicroelectronics slipped nearly 2%, remaining pressured by concerns over future AI returns relative to its capital expenditure. Meanwhile, Prysmian fell 4% as investors grew cautious about the durability of its strong profits, which may have been influenced by one-off items. Similarly, Unipol fell 3.8% despite a 54.7% rise in nine-month earnings. Also, Iveco edged lower after Italy approved its sale to Tata Motors, which will divest its defense unit to Leonardo. Leonardo rose 1.8% after reporting a 23.4% jump in new orders as the surge in defense investment by NATO governments supported the European defense sector this year. The day’s standout performer was Banca MPS, which gained 4.4% after third-quarter profit exceeded estimates and the bank raised its 2025 outlook.