The head of Italian stockmarket
watchdog CONSOB Giuseppe Vegas said on Tuesday that recent
strong declines in Italian bank shares were due to general
market volatility rather than any concrete new developments.
Banks that have come under the lens of the European Central
Bank (ECB) for their bad loans portfolios continued to tumble on
Tuesday.
Siena-based MPS, Carige and Banco Popolare were among those
losing ground in the early afternoon.
"It does not even make sense to concentrate on these banks,
because the situation is general," Vegas said on the margins of
a conference in Rome.
He also ruled out a specific bourse attack on Italy being
behind this week's large drops in banking stocks.
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