Italy's Monthly Industrial Producer Prices Edge Down 0.9% in November(FTSE MIB Slightly Down on Thursday)

Italy's industrial producer price index declined 0.9% month over month in November, following a 1.5% growth in October, statistical office Istat said Thursday.

On a yearly basis, the index was 12.6% lower, against the prior 9.5% decrease.

FTSE MIB Slightly Down on Thursday

The FTSE MIB is down by 0.3% to trade below the 30,300 threshold on Thursday, tracking a cautious global mood, but remaining close to 2008-high levels, amid profit-taking and as traders assess both the economic and the monetary policy outlook. On the corporate front, the automotive sector took a hit, with major players like Stmicroeletronics (-1%), Ferrari (-0.7%), and Amplifon (-1%) underperforming, in line with the sector overall's trend, after Toyota had to recall 1 million vehicles over air bag issues. On the other hand, Erg and Recordati Ord stood out, gaining over 1% each, the former following the company's investment of 270 million dollars in US renewables. In other news, Eni (+0.3%) is reportedly planning to sell a 10% stake in Plenitude.

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