Milan, European markets follow Shanghai's drop

(ANSA) - Rome, July 27 - Milan's leading financial index joined other European markets in showing heavy losses Monday after Shanghai Composite Index made one of its worst showings in years.
    Milan's FTSE Mib lost 1.66% by mid-day Monday to reach 23,116.85 points, while Paris's financial market shed 1.4%, Frankfurt fell by 1.2%, Madrid dropped 0.7%, and London traded 0.2% lower.
    The losses came after Shanghai fell by 8.5%, its worst one-day fall since February 2007, according to published reports.
    Investors appeared to be nervous about weakness in the Chinese economy and financial markets.