The FTSE MIB closed nearly flat at 42,312 on Friday after a week dominated by central bank decisions, including the US Federal Reserve’s first rate cut since December, lowering interest rates by 25 bps.
In corporate news, Generali slipped after the company and French bank BPCE agreed to scrap a €50 million break-up fee tied to their stalled asset management merger talks, with the deal now seen as unlikely.
Opposition has grown amid changes in Generali’s shareholder base, where Mediobanca is the largest investor.
Mediobanca’s board and CEO resigned Thursday after losing a takeover battle to Monte dei Paschi di Siena, which recently secured over 62% of the merchant bank through a cash-and-share offer.
Mediobanca fell 1.8% and MPS 1.4%, while Unipol (+2.9%), BPER Banca (+1.4%), and BCA POP Sondrio (+1.4%) advanced.
