Milan – The Milan Stock Exchange closed the last trading day of October with a loss of 1.00 percent. The benchmark FTSE MIB index closed at 49,500.97 points on Friday, October 30. This brought it back below the 50,000-point mark, which it had barely held onto the previous evening.
Hearing aid specialist Amplifon came under particularly heavy pressure: Its stock fell 14.50 percent. Among technology stocks, Technoprobe fell 8.95 percent, while STMicroelectronics dropped 5.27 percent. Cable manufacturer Prysmian closed down 3.92 percent.
The downturn also affected the global technology sector. Disappointing quarterly results from Intel and Amazon fueled doubts in U.S. markets about the returns on heavy investments in artificial intelligence. Technology stocks also came under selling pressure on European exchanges.
Milan Stock Exchange: Luxury Stocks Defy the Trend
By contrast, some consumer stocks rose. Moncler gained 2.42 percent, and the spirits company Campari rose 1.83 percent. Brunello Cucinelli also closed the session up 1.52 percent. Stock performance thus varied widely depending on the sector and the company.
The FTSE MIB fluctuated between 49,339.74 and 49,700.29 points during the day. Its previous closing level had been 50,002.36 points. The index tracks the performance of 40 major Italian stocks. The closing prices and changes listed refer to the trading session on October 30.
