The Milan stock exchange lost
more ground on Monday as the turmoil following Britain's vote to
leave the European Union continued.
The market, which suffered record losses of over 12% on
Friday, made gains after the opening of business and was 1% up
at one stage.
But these were quickly reversed and the FTSE Mib index was
2.2% down at the midway mark of Monday's session.
Trading in nine stocks was suspended due to excessive
losses - MPS, Mediobanca, Unicredit, UBI Banca, BPM, Azimut,
Ferragamo, Generali and Mediolanum.
Troubled bank MPS was down by over 10%, followed by
Mediobanca (down 9.6%) and UniCredit (down 8.24%).
The spread between Italy's 10-year BTP bond and the German
bund was relatively stable though.
The spread, a key measure of investor confidence and of
Italy's borrowing costs, stood at 162.2 points with a yield of
1.51%, compared to 163 points at closing on Friday.
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