The Milan stock exchange lost
ground Friday with the benchmark FTSE MIB index shedding 1.1% to
close at 16,542 points on what analysts said was profit-taking
after yesterday's rally on the U.S. Federal Reserve's decision
to leave short-term rates unchanged.
Bank shares came under fire again, with Monte dei Paschi di
Siena (MPS) losing 1.9% to close at 0.19 euros a share, UBI
-3.4% and Intesa Sanpaolo -3.2%.
Banco Popolare (-2.3%) and BPM (-2.1%) posted losses in
spite of their imminent merger.
UniCredit bucked the trend, adding 1.3% after Goldman Sachs
put it on its "conviction buy" list.
Salvatore Ferragamo added 2.6% after a positive assessment
from analysts at Kepler Cheuvreux, while Moncler shed 2.2% and
Yoox-net-a-porter lost 1.9%.
Silvio Berlusconi's Mediaset media conglomerate rose by
1.31% and Ferrari luxury carmaker added 0.62%.
The spread between Italian and
German 10-year bonds, a gauge of Italy's borrowing costs and
investor confidence, closed at 129.33 points, up from 128 points
on Thursday.
The yield was 11.211%, up from 1.18% yesterday.
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