Italian Stocks Close 0.7% Down, Still Post Weekly Gains

The FTSE MIB fell 0.7% to close at 34,150 on Friday, aligning with its European counterparts as investors adjusted their expectations for U.S. monetary policy following comments from Fed Chair Jerome Powell, who suggested there was no immediate need for rate reductions.

On the corporate front, Generali shares surged 5% after the company reported a 7.9% increase in operating profit for the first nine months of the year, surpassing expectations.

Key Italian stocks showed mixed performance, with declines in Ferrari (-1.7%), Unicredit (-2.8%), Stellantis (-0.7%), STMicroelectronics (-3.9%), and Prysmian (-2.8%).

In contrast, Eni (+0.8%), Tenaris (+0.8%), and Poste Italiane (+0.6%) posted gains.

On the macroeconomic front, Italy's inflation rose to 0.9% in October from 0.7% in the previous month, in line with preliminary estimates.

For the week, the FTSE MIB rose by 0.3%."