The Milan stock exchange was
headed towards a record fall in trading on Friday after Britain
voted to leave the European Union.
With just around two hours of trading to go, the FTSE Mib
index was down 10.6%.
That would be the biggest single-day loss that it was
possible to find working back to 1994 by analysing the history
of the FTSE Mib and its predecessor, the Mibtel.
The bourse lost 8.24% on October 6, 2008 after the Lehman
Brothers failure and 7.57% after the September 11, 2001 attacks.
The spread between Italy's 10-year BTP bond and the German
bund, a key measure of investor confidence and of Italy's
borrowing costs, shot up in early trading on Friday after
Britain voted to leave the European Union.
The spread, which closed at 130.2 basis points on
Thursday, went up as far as 191 points before dropping back to
157.
ALL RIGHTS RESERVED © Copyright ANSA
