FX.co ★ Italian Stocks Drop for 3rd Session

On Monday, the FTSE MIB experienced a modest decline of 0.2%, closing at 38,973, as it shed early gains. This shift occurred as investors evaluated European economic data and awaited decisive details regarding the reciprocal tariffs from the U.S. under President Donald Trump's administration, which are scheduled to come into effect on April 2nd. Although there were indications that these tariffs might be less comprehensive than initially expected, apprehensions about potential disruptions in trade remained. The European economic landscape presented a mixed bag, with PMI data revealing that Eurozone manufacturing output marked its first expansion in two years, contrasting with a deceleration in the services sector's growth, thereby contributing to regional economic uncertainty. In Italy, financial stocks exhibited varied performances: Enel, Eni, and Leonardo saw declines ranging from 1.3% to 2.4%, whereas Banca Mediolanum, Telecom Italia, and Stellantis registered gains, increasing between 2% and 2.1%.