The Milan stock exchange was
off to a rocky start Tuesday after China stocks closed 6.4%
lower as oil slid below $30 a barrel, dragging Asia markets
down.
The benchmark FTSE Mib index opened -1.51% at 18,364 points
and rose to -1.07% in later trading.
Banks lost ground at the opening, with UniCredit -3.1% and
Intesa Sanpaolo -2.2%.
Monte dei Paschi di Siena (MPS) shares took another beating
(-6.9%) and trading was suspended after just a few minutes on
excessive volatility.
Oil and gas industry contractor Saipem, a subsidiary of
Italian energy company ENI, tanked by 10.8% to 0.56 euros a
share after Monday's 3.5-billion-euro capital increase.
ENI was trading at -1.9%.
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