FTSE MIB Snaps 2-Day Gain

The FTSE MIB fell to around 51,900 on Friday, ending a two-day gain and tracking regional peers as markets capped a week of major central-bank decisions. The Federal Reserve and Bank of Japan raised rates this week, while the Bank of England left rates unchanged. Meanwhile, traders pared back bets on further European Central Bank tightening as high energy prices threatened growth and could eventually ease inflationary pressures. At the sector level, oil major Eni fell more than 1%, tracking lower oil prices amid hopes for alternative routes for Middle Eastern barrels. Energy and utility stocks also traded lower, including Enel (-1.2%), Saipem (-1.4%), Snam (-0.8%), Terna (-0.5%) and A2A (-0.7%). For the week, the benchmark index was heading for a decline of about 1%.