FTSE MIB Gains but Tracks Weekly Decline

The FTSE MIB climbed to around 38,277 in early trading on Friday, recouping previous session losses but remaining on track for a second consecutive weekly decline as traders assessed trade tensions and geopolitical developments.

President Donald Trump threatened a 200% tariff on EU alcoholic beverages after the bloc imposed a 50% tax on American whiskey exports.

Meanwhile, Russian President Vladimir Putin expressed skepticism over a US-brokered ceasefire with Ukraine.

On the corporate front, Brunello Cucinelli gained over 1% after reporting strong Q4 2024 results, with revenue up 12.2% to €1.278 billion, EBIT at €211.7 million, and net profit rising 19.5% to €128 million.

Other notable gainers included Leonardo (+3%), Telecom Italia (+2.7%), Moncler (+2.5%), and Prysmian (+1%).