The FTSE MIB fell 0.4% to around 42,100 in early trading on Thursday, giving back some of the previous session’s gains and underperforming most of its European peers.
Traders continued to digest global monetary policy decisions this week.
The Bank of Japan left interest rates steady, as expected, but announced plans to scale back purchases of ETFs and REITs, signaling a possible shift away from ultra-loose policy.
Earlier in the week, the Federal Reserve delivered its first rate cut since December, while the Bank of England opted to hold rates unchanged.
Investors also monitored a call between US President Trump and China’s President Xi for clues on trade negotiations.
On the corporate front, early laggards included Tenaris (-1.2%), Banca Monte dei Paschi di Siena (-1.0%), STMicroelectronics (-0.8%), and Banco BPM (-0.7%).
For the week, the index is on track for a decline of more than 1%.
