The FTSE MIB erased early gains to hover below the 40,000 threshold on Thursday, tracking other European benchmarks as markets reconsidered the outlook on European trade.
While European equities initially rose after a US Commercial Court blocked most global tariffs imposed by President Donald Trump, the Milan exchange gave up gains as White House pledges to pursue other tariff means erased optimism of no trade barriers.
Media and utilities stocks lead the declines across Europe.
In Italy, Leonardo, Generali, Prysmian, and Buzzi are among the worst performers, with Buzzi.
On the other hand, Unipol, Brunello Cucinelli, Inwit, and Mediobanca lead gains on the index.
