Italian Stocks Extend Losses

Milan’s FTSE MIB fell over 1% to 49,900 on Friday, extending losses as a global equity selloff fueled by concerns over tighter AI regulation in the US weighed on risk sentiment. The decline was broad-based, with financial and insurance stocks among the biggest laggards. Banco BPM plunged 2.7%, while Generali and Unipol shed 2.3% and 2.5%, respectively. Saipem also dropped 3.1%, followed by Nexi, down 2.7%. Banking heavyweights Intesa Sanpaolo and UniCredit lost 1.4% and 0.9%, each, while Monte dei Paschi di Siena slipped 0.6% despite reporting third-quarter net profit of €543 million, beating analyst expectations. Meanwhile, investors continued to monitor Intesa's proposed €34 billion takeover of MPS, with reports that Italy's antitrust authority had broadly accepted the proposed measures to address competition concerns. On the upside, Buzzi gained 1.1%, while Technoprobe edged up 0.2%. Despite Friday's losses, the benchmark remained on track for a weekly gain.