The Milan stock exchange's FTSE
Mib index closed 2.51% down on 21,090 points on Friday amid
fears about the consequences of plunge in the Turkish lira.
The bourse was 3% down at one stage in the afternoon.
UniCredit stock was under particularly heavy pressure.
The Italian bank owns Turkish lender Yapi Kredi.
Its share price was suspended for excess volatility when it
was 5.8% down at 13.60 euros, compared to its starting price of
14.46 euros on Friday.
The spread between Italy's 10-year BTP bond and the German
bund, meanwhile, climbed to 264 basis points, with the yield on
the BTP close to 3% at 2.96%.
The BTP closed at 252 points on Thursday.
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