周五，富时MIB指数上涨0.3%，收于42566点，此前欧洲央行周四决定保持利率不变，并对增长和通胀保持乐观前景，导致交易员降低了进一步降息的预期。欧洲央行政策制定者指出了贸易、能源价格和汇率的不确定性，保持了未来汇率选择的开放性。在Monte dei Paschi di Siena（MPS）获得62%的股份后，标普全球评级将Mediobanca的“BBB+”长期信用评级置于CreditWatch负面，理由是尽管有长期利益，但存在潜在的短期风险。MPS（+3.5%）和Mediobanca（+3.4%）领涨，其次是Enel（+0.4%）和Generali（+0.2%），尽管油价上涨，Stellantis（-1.8%）和Eni（-0.2%）仍落后。

The FTSE MIB gained 0.3% to close at 42,566 on Friday, after the ECB decided on Thursday to keep interest rates unchanged and maintain an upbeat outlook on growth and inflation, leading traders to scale back expectations for further rate cuts. ECB policymakers flagged uncertainty over trade, energy prices, and exchange rates, keeping future rate options open. S&P Global Ratings placed Mediobanca’s ‘BBB+’ long-term credit rating on CreditWatch negative after Monte dei Paschi di Siena (MPS) secured a 62% stake, citing potential short-term risks despite long-term benefits. MPS (+3.5%) and Mediobanca (+3.4%) led gains, followed by Enel (+0.4%) and Generali (+0.2%), while Stellantis (-1.8%) and Eni (-0.2%) lagged despite higher oil prices.

富时MIB指数周五下跌0.3%，至42300点左右，收复了前一交易日的部分涨幅，表现不如欧洲同行。尽管如此，该指数仍有望在三周内首次出现周内上涨，这得益于对美国潜在降息的乐观情绪，此前美国失业救济申请人数激增和通胀温和上升，强化了人们对美联储本月晚些时候和年底放松政策的预期。与此同时，欧洲央行表示其降息阶段已经结束，拉加德总统指出，该行处于“良好状态”，增长风险现在更加平衡。整个股市，汽车股早盘下跌，Stellantis下跌1.7%，法拉利下跌0.5%。从上涨的角度来看，值得注意的上涨股包括莱昂纳多（+1.2%）、普睿司曼（+1.1%）、泰纳瑞斯（+1.1.%）和Unipol Gruppo（+1%）。

The FTSE MIB fell 0.3% to around 42,300 on Friday, giving back some of the previous session’s gains and underperforming its European peers. Still, the index is on track for its first weekly rise in three weeks, supported by optimism over potential US rate cuts, after a surge in US jobless claims and a modest uptick in inflation reinforced expectations of Federal Reserve easing later this month and into year-end. Meanwhile, the ECB signaled that its rate-cutting phase has concluded, with President Lagarde noting that the bank is in a “good place” and that growth risks are now more balanced. Across the bourse, auto stocks lagged early, with Stellantis down 1.7% and Ferrari falling 0.5%. On the upside, notable gainers included Leonardo (+1.2%), Prysmian (+1.1%), Tenaris (+1.1%), and Unipol Gruppo (+1%).

周四，富时MIB指数上涨0.9%，收于42432点，此前欧洲央行会议将存款利率维持在2%不变，符合预期，并下调了通胀预测。目前预计2027年通胀率为1.9%，核心通胀率为1.8%，均低于2%的目标，政策制定者预计12月可能降息，以缓解欧元区经济对美国关税的冲击。在股票中，Stellantis在同意出售其意大利VM Motori部门后飙升9.2%，这表明在首席执行官Antonio Filosa的领导下，其现金生成能力更强。在地缘政治紧张局势下，Leonardo上涨2.9%，而Buzzi上涨6.8%，此前摩根大通上调评级，称欧洲水泥市场基本面有所改善。

The FTSE MIB gained 0.9% to close at 42,432 on Thursday, following the ECB meeting, which left the deposit rate unchanged at 2%, in line with expectations, and trimmed its inflation forecasts. Inflation is now projected at 1.9% in 2027 and core inflation at 1.8%, both below the 2% target, with policymakers eyeing December for a potential rate cut to cushion the eurozone economy from US tariffs. Among stocks, Stellantis surged 9.2% after agreeing to sell its Italian VM Motori unit and signaling stronger cash generation under CEO Antonio Filosa. Leonardo gained 2.9% amid geopolitical tensions, while Buzzi rose 6.8% following a JPMorgan upgrade citing improved fundamentals in the European cement market.

在米兰，富时MIB指数周四上涨373点，涨幅0.89%。涨幅最大的是Stellantis N.V.（9.17%）、Buzzi Unicem（6.77%）和Leonardo SpA（2.48%）。最大的损失来自MFE MediaForEurope（-2.22%）、Diasorin（-1.79%）和Nexi（-1.44%）。

In Milan, the FTSE MIB Index went up by 373 points or 0.89 percent on Thursday. Top gainers were Stellantis N.V. (9.17%), Buzzi Unicem (6.77%) and Leonardo SpA (2.48%). Biggest losses came from MFE-MediaForEurope (-2.22%), Diasorin (-1.79%) and Nexi (-1.44%).