Italy: FTSE MIB Slides on ECB Uncertainty.

The FTSE MIB fell 1.7% to close at 45,819 on Thursday, weighed down by uncertainty following the ECB’s rate decision. While the central bank left interest rates unchanged as expected, President Christine Lagarde said the inflation outlook was more uncertain than usual, noting that a stronger euro could curb price pressures more than policymakers currently anticipate. The BTP-Bund spread widened 3 basis points, dragging financials lower, with UniCredit down 4.2% and Intesa Sanpaolo off 3.7%. Stellantis also underperformed, shedding 5.7% amid reports of significant delays in EV production due to issues at a key battery supplier. Elsewhere, Leonardo lost 1.4% following Rheinmetall underwhelming guidance. On the upside, STMicroelectronics and Telecom Italia both gained 1%