Dragged down by the financial
sector, the Milan bourse closed 2.2% down Monday with the
bellwether FTSE-MIB index falling to 18,693 points.
UniCredit led the fall by dropping 6.8% on the first day of
its 13-billion-euro capital call.
All the other big banks also fell: Bper (-5.7%), Banco Bpm
(-5.8%), Mediobanca (-4.1%), Fineco (-4.4%), Ubi (-5.5%) and
Intesa (-2.4%).
Of the other finance stocks, poor performers included
insurers Unipol (-4.9%), Unipol Sai (-3.8%) and Generali
(-2.3%).
European stocks were hit Monday by French rightist populist
leader Marine Le Pen's threat to leave the euro in a so-called
'Frexit'
Frankfurt lost 1.2%, Paris 0.98% and London 0.22%.
The markets were not lifted by European Central Bank chief
Mario Draghi, who warned against US President Donald Trump's
much-trumpeted protectionism and dismantling financial rules put
in place after the 2008 financial crisis.
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