富时MIB指数周四收于34433点，上涨约0.2%，创下2007年12月以来的新高，连续第二天上涨。在美联储暂停政策宽松和杰罗姆·鲍威尔对2025年降息持谨慎立场之后，欧洲央行在本周期第五次降息25个基点的决定成为焦点。投资者还评估了新的盈利报告和关键经济数据。据初步估计，2024年第四季度，意大利国内生产总值与上一季度持平，同比增长0.5%。在个股中，依维柯集团（+1.6%）和普睿司曼（+1.60%）保持了稳健的表现，而StMicroelectronics（-10.8%）在公布2024年利润和收入下降后领跌，符合预期，且没有为2025年提供指导。

The FTSE MIB closed about 0.2% up at 34,433 on Thursday, reaching a new high since December 2007 and marking its second consecutive day of gains. The ECB’s decision to cut interest rates by 25 bps for the fifth time in the cycle took center stage, following the Fed's pause in policy easing and Jerome Powell's cautious stance on 2025 rate cuts. Investors also assessed fresh earnings reports and key economic data. Domestically, Italy’s GDP was flat in Q4 2024 compared to the previous quarter and up 0.5% year-on-year, according to preliminary estimates. Among individual stocks, Iveco Group (+1.6%) and Prysmian (+1.6%) maintained their solid performance, while StMicroelectronics (-10.8%) led losses after posting declining profits and revenues for 2024, in line with expectations, and not providing guidance for 2025.

1月底，10年期意大利BTP收益率降至3.6%，为一周多来的最低水平，此前欧洲央行按预期连续第四次降息，理由是通货紧缩进程持续取得进展。此外，政策制定者表示对未来几个月进一步宽松持开放态度。与此同时，美联储周三暂停了降息周期，主席杰罗姆·鲍威尔预计通胀问题将取得进一步进展。在意大利，2024年第四季度GDP连续第二个季度停滞不前，低于0.1%的增长预测。

The 10-year Italian BTP yield dropped to 3.6% at the end of January, its lowest in over a week, after the European Central Bank delivered its fourth consecutive rate cut as expected, citing continued progress in the disinflation process. Additionally, policymakers signaled openness to further easing in the coming months. Meanwhile, the US Federal Reserve paused its rate cut cycle on Wednesday, with Chair Jerome Powell expecting further progress on inflation. In Italy, GDP stagnated for the second straight quarter in Q4 2024, missing forecasts of 0.1% growth.

2024年11月，意大利工业销售额环比增长1.5%，高于上月0.5%的增幅。这是工业销售额连续第二个月上升，能源（14.1%）、资本货物（2.6%）和中间产品（0.8%）的营业额均有所增长。然而，消费品的营业额下降了（-0.9%）。国内市场的营业额增长了1.5%，而国外市场的营业额则增长了0.3%。2024年11月，工业销售额同比下降2.6%，较前一个月的5.3%有所缓解。

Industrial sales in Italy increased by 1.5% month-on-month in November 2024, accelerating from a 0.5% gain in the previous month. It was the second consecutive month of rising industrial sales, as turnover rose for energy (14.1%), capital goods (2.6%), and intermediate goods (0.8%). However, turnover decreased for consumer goods (-0.9%). Turnover increased by 1.5% in the domestic market, while it rose at a softer 0.3% for foreign market. On a yearly basis, industrial sales fell 2.6% in November 2024, easing from a 5.3% drop in the preceding month.

2024年12月，意大利失业率升至6.2%，为五个月来最高，高于市场预期的5.7%。失业人数增加了88000人，达到1593000人，净就业人数增加了4000人，达到24065000人。劳动力参与率从66.4%微升至66.5%。

The unemployment rate in Italy rose to 6.2% in December 2024, the highest in five months and above market expectations of 5.7%. The number of unemployed individuals rose by 88,000 to 1,593,000 and the number of net employment increased by 4,000 to 24,065,000. The labor force participation rate edged up to 66.5% from 66.4%.