Milan bourse plunges on China fears

(ANSA) - Milan, August 24 - The Milan bourse lost 3% in early trading Monday after Asian markets plunged on fears over the Chinese economy. Banks lost ground with Intesa Sanpaolo down by 3.04%, UniCredit shedding 2.93%, and Mps losing 3.04% Mediaset plunged 4.8%. Pirelli tiremaker bucked the trend, trading up 0.07%, just under its IPO price of 14.99 euros a share. Elsewhere, Tokyo closed down 4.61% - its worst showing in the past two years - while in Shanghai, the stock market plunged by 8.8% at the close.