FX.co ★ Italian Stocks Set to Close the Week Higher

The FTSE MIB remained relatively stable around the 40,600 mark on Friday, poised for a 0.7% weekly gain as investors evaluated the implications of Europe's monetary and trade policies, alongside significant corporate earnings reports. Earlier in the week, it was reported that EU officials made headway in their trade negotiations with US counterparts, boosting optimism for an agreement that would reduce US tariffs to 15%, down from the previously threatened 30%. Nevertheless, expectations for credit conditions have shifted towards a more restrictive stance following the ECB's resistance to immediate further rate cuts. ENI shares remained steady despite falling short of forecasts, though the company did increase its guidance for the year. However, the firm noted that a strong euro and low oil prices could potentially hinder profit growth. Meanwhile, Stellantis saw a 2% rise, continuing its volatile trend due to its exposure to US tariffs on Japan and the EU. Domestically, both business and consumer confidence improved in July.