The Milan stock market was in the
red Monday as the FTSE MIB blue chips index lost 1.73% to close
at 16,554 points.
Investors shied away from Italian banks that showed
weaknesses after European Central Bank (ECB) stress tests, with
results were released late last Friday.
UniCredit lost 9.4% at the end of trading to close at 1.98
euros a share after it was suspended twice on volatility.
Other lenders followed suit, including Carige (-6.8%), BPM
(-6.2%), UBI (-6.2%), Banco popolare (-5%) Intesa Sanpaolo
(-3.5%) and Mediobanca (-1.9%).
Monte dei Paschi di Siena (MPS) bucked the trend, closing
+0.58% after analysts commented positively on the lender's plan
to spin off 27 billion euros in non-performing loans while
undergoing a five-billion-euro capital increase.
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