Shares in troubled Italian
lender Monte dei Paschi di Siena slid 6.4% to close at historic
lows of around 0.19 euros on new chief executive Marco Morelli's
first day on Tuesday.
The bank's market capitalisation has fallen to 552 million
euros. For the whole trading day on Tuesday the shares were
under pressure and were temporarily suspended due to excess
losses as traders cited worries over the emergency rescue plan
for Italy's third biggest bank.
The Tuscan lender, the world's oldest bank, recently
settled on a rescue plan to offload bad loans and hike capital
after failing an EU stress test. It plans to raise up to 5
billion euros in a capital increase and get rid of 28 billion
euros of gross bad loans.
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