Italy: FTSE MIB Falls as Rate Cut Hopes Fade.

The FTSE MIB fell 1.7% to 43,995 on Friday, pulling back from its highest level since 2001 as optimism over further US rate cuts faded. Persistent inflation concerns in the US led key Fed officials to caution against expecting another cut this year. Financial stocks weighed on the index, with UniCredit down 4.4%, Intesa Sanpaolo 3.1%, BPER 3.8%, and Banca Popolare di Sondrio 3.5%, while Generali lost 1.6% despite strong Q3 results. Meanwhile, Stellantis slid 2.6%, Leonardo 1.7%, and STMicroelectronics 1.5%. In contrast, Azimut Holding rose 3.5% after announcing an immediate share buyback program, with management set to buy shares to signal confidence in its TNB project. The move followed a 10% plunge in the prior session after concerns from the Bank of Italy over governance issues. Likewise, Mediobanca gained 0.6%.