European stocks mixed as ECB decision looms; Milan banks weigh on FTSE MIB

European stock markets moved unevenly on Thursday as investors awaited the European Central Bank's decision, following the US Federal Reserve's expected move to hold interest rates steady. Milan's FTSE MIB was held back by banking stocks, while Campari suffered a sharp decline. The Fed left rates unchanged in the 3.75-4% range, citing a solid US economy with inflation as the main concern. Markets now price an 80% chance of a December rate hike, with attention on upcoming US PCE inflation and GDP data. Italy's government-approved 26 billion euro budget imposes costs of 5.5-6 billion on banks and insurers. Mixed earnings dominated trading, with Google parent Alphabet disappointing on net income and free cash flow despite strong revenue growth, while Microsoft beat estimates on Azure cloud growth of 48%. Samsung shares fell despite record operating profit, as net income missed forecasts. Geopolitical tensions in the Middle East remained elevated, though oil and gas prices cooled.