Martedì, 18 Settembre 2018

Milan sinks while other European stock markets mixed


Milan, January 23 - Italy's leading stock market
was pulled lower Wednesday by weak bank shares while other
European markets showed a mixed performance.
On the Milan Stock Exchange, the FTSE Mib fell by 0.77% in
trading to end the day at 17,579 points.
The overall performance of the index was dragged down by
falling bank shares, hit hard by a derivatives scandal at
Italy's third-largest lender Banca Monte dei Paschi di Siena
One of the world's oldest banks, MPS saw its stock plunge
more than 7% in trading Wednesday as the details of 2012 losses
that could reach 220 million euros became known.
At one point during the day, trading was suspended to halt
The bank had previously requested 3.9 billion euros in
State aid to cover its capital needs.
Investor fears spread across the financial sector, hitting
other unrelated stocks.
Meanwhile, the spread between Italy's benchmark 10-year
bond and its ultra-safe German counterpart closed at 265 basis
points, up from Tuesday's close of 262 basis points.
The yield on 10-year Italian paper stood at 4.19%, down
slightly from Tuesday's 4.20%.
In other European markets, Frankfurt's DAX gained 0.15% to
reach 7,707.54 points, while London's FTSE 100 climbed by 0.30%
to close at 6,197.64 points, Paris's CAC 40 ended the day 0.40%
lower to 3,726.14 points, and Spain's IBEX 35 closed trading
0.22% lower at 8,613.30 points.

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