周二，富时MIB指数下跌0.2%，收于42076点，受北京制裁韩国韩华海洋的五家美国子公司后，对美中贸易紧张局势的再次担忧拖累。汽车制造商Stellantis是最大的拖累因素，据报道，其Jeep Wrangler 4xe车型的无线软件更新导致车辆故障或无法运行，跌幅达4.8%。法拉利也下跌了1.5%，追随同行米其林下调全年利润预期后更广泛的汽车行业的跌幅。从积极的一面来看，保险公司和金融业对该指数提供了一些支持，忠利银行上涨2.3%，Finecobank上涨2.1%，Unipol上涨1.3%。意大利银行表示，他们将通过延长政府对用于提高利润的税收抵免的冻结来维持其支持公共财政的承诺。

The FTSE MIB slipped 0.2% to close at 42,076 on Tuesday, weighed down by renewed concerns over US-China trade tensions after Beijing sanctioned five US subsidiaries of South Korea’s Hanwha Ocean. Automaker Stellantis was the biggest drag, tumbling 4.8% after an over-the-air software update for its Jeep Wrangler 4xe model reportedly caused vehicles to malfunction or become inoperable. Ferrari also declined 1.5%, tracking losses in the broader auto sector after peer Michelin cut its full-year profit guidance. On the positive side, insurers and financials lent some support to the index, with Generali rising 2.3%, Finecobank 2.1%, and Unipol 1.3%. Italian banks said they would maintain their commitment to supporting public finances by extending the government’s freeze on tax credits used to boost profits.

周二早盘，富时MIB指数下跌逾1%，至41600点以下，触及一个多月来的最低水平，因美中贸易紧张局势再次扰乱市场。中国通过制裁韩国造船商韩华海洋的五家美国公司来回击美国，这标志着世界上最大的两个经济体之间长期存在的争端升级。主要工业公司受到的打击最为严重，包括Stellantis（-3.3%）、Leonardo（-2.4%）和Buzzi Unicem（-2.5%）。银行股也遭受重创，BPM银行（-3.0%）、Mediobanca银行（-2.2%）、联合信贷银行（-2.3%）、联合圣保罗银行（-2.1%）和BPER Banca银行（-2.10%）大幅下跌。

The FTSE MIB fell more than 1% to below 41,600 in early trading on Tuesday, hitting its lowest level in over a month as renewed US–China trade tensions rattled markets. China hit back at the US by sanctioning five American units of South Korean shipbuilder Hanwha Ocean, marking an escalation in a long-standing dispute between the world’s two largest economies. Major industrial firms were among the hardest hit, including Stellantis (-3.3%), Leonardo (-2.4%), and Buzzi Unicem (-2.5%). Banking stocks also suffered, with sharp losses in Banco BPM (-3.0%), Mediobanca (-2.2%), UniCredit (-2.3%), Intesa Sanpaolo (-2.1%), and BPER Banca (-2.1%).

富时MIB指数周一上涨0.3%，至42168点，追随全球股市上涨，因美中紧张局势的缓解提振了市场情绪。作为其正在进行的回购计划的一部分，意法半导体在10月6日至10日回购399335股后上涨超过3%。该芯片制造商还加强了其在超宽带技术领域的地位，其范围和连接部门负责人加入了FiRa联盟董事会。Stellantis股价上涨2.7%，此前该公司将新战略计划的发布推迟到明年，使首席执行官Antonio Filosa有更多时间应对不断变化的市场状况，同时恢复Mauro Pino领导北美制造业。工业品牌也表现良好，Buzzi上涨超过3%，Interump上涨2.6%。与此同时，法拉利股价下跌了4%以上，在削减了长期前景并缩减了电动汽车生产野心后，进一步扩大了亏损。

The FTSE MIB climbed 0.3% to 42,168 on Monday, tracking global equity gains as easing US-China tensions lifted sentiment. STMicroelectronics advanced over 3% after repurchasing 399,335 shares between October 6–10 as part of its ongoing buyback program. The chipmaker also strengthened its position in ultra-wideband technology, with its Range and Connectivity Division head joining the FiRa Consortium board. Stellantis rose 2.7% after postponing the release of its new strategic plan to next year, allowing CEO Antonio Filosa more time to address shifting market conditions, while reinstating Mauro Pino to lead North American manufacturing. Industrial names also performed well, with Buzzi up over 3% and Interpump gaining 2.6%. Meanwhile, Ferrari slumped more than 4%, extending losses after cutting its long-term outlook and scaling back its ambitions for electric vehicle production.

意大利10年期英国国债收益率跌至3.4%，为8月初以来的最低水平，原因是投资者追踪到法国持续的政治不稳定以及美中之间贸易紧张局势的加剧。在欧洲，法国总理塞巴斯蒂安·莱科尔努因预算僵局辞职后迅速复职，但新政府本周晚些时候可能面临议会的不信任投票，加剧市场担忧。与此同时，上周五，在特朗普总统批评中国对关键矿产出口的限制后，美中贸易紧张局势爆发，尽管白宫周末表示可以恢复谈判。在宏观经济方面，欧洲央行认为其目前的政策立场足以遏制通胀压力，经济增长保持稳定。市场现在基本上排除了到2025年底进一步降息的可能性。

Yields on Italy’s 10-year BTPs fell toward 3.4%, their lowest level since early August, as investors tracked ongoing political instability in France and renewed trade tensions between the US and China. In Europe, French Prime Minister Sébastien Lecornu was swiftly reinstated after resigning over a budget deadlock, but the new government could face a no-confidence vote in parliament later this week, fueling market concerns. Meanwhile, US-China trade tensions flared last Friday after President Trump criticized China’s restrictions on critical mineral exports, though the White House signaled over the weekend that negotiations could resume. On the macroeconomic front, the European Central Bank views its current policy stance as sufficient to contain inflationary pressures, with economic growth remaining on a stable footing. Markets now largely rule out further rate cuts through the end of 2025.