Panic selling sweeps Milan bourse

(ANSA) - Milan, February 8 - A wave of panic selling hit the Milan bourse Monday as heavy losses by a slew of blue chips drove the FTSE-Mib index down 4.69% to 16,441 points.
    The worst performer was Saipem which shed 25% amid its ongoing rights issue.
    MPS closed 11% down, near its all-time low, at 0.519 euros.
    Bper lost 11.9%, UBI and Poste Italiane both 10.4% and Carige was off 10% while Intesa dropped 4%.
    FCA lost 9.8%.