Martedì, 23 Ottobre 2018

European stocks continue losses as Cyprus bailout stalls


Milan, March 19 - European stocks closed largely in
the red for the third consecutive day Tuesday as an EU-backed
bailout plan for Cyprus ran into difficulties in the island
country's parliament and investors got jumpy.
Milan's FTSE-MIB ended the day down 1.59% at 15,670.56,
Spain's IBEX 35 dropped 2.2% to 8,321, France's CAC 40 shed 1.3%
at 3,775.75, Germany's DAX closed 0.8% off at 7,947.79 and
London's FTSE 100 ended the day 0.3% lower at 6,441.32.
Reflecting worries that the stalled bailout of Cyrpus could
have wider ramifications in the eurozone, the spread between
Italy's 10-year BTP and its German counterpart once again rose
Tuesday to 337 basis points, up from Monday's close of 323 basis
The financials-heavy Milan stock exchange saw banking
shares hit particularly hard with Mediobanca down 5.03%,
followed by BPM (-5%), Ubi and UniCredit (both losing 4.07%) and
Banco Popolare (-3.77%).

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