Milan stock exchange suffers more losses (2)

(ANSA) - Milan, June 27 - The Milan stock exchange lost more ground on Monday as the turmoil following Britain's vote to leave the European Union continued. The market, which suffered record losses of over 12% on Friday, made gains after the opening of business and was 1% up at one stage.
    But these were quickly reversed and the FTSE Mib index was 2.2% down at the midway mark of Monday's session. Trading in nine stocks was suspended due to excessive losses - MPS, Mediobanca, Unicredit, UBI Banca, BPM, Azimut, Ferragamo, Generali and Mediolanum. Troubled bank MPS was down by over 10%, followed by Mediobanca (down 9.6%) and UniCredit (down 8.24%).
    The spread between Italy's 10-year BTP bond and the German bund was relatively stable though.
    The spread, a key measure of investor confidence and of Italy's borrowing costs, stood at 162.2 points with a yield of 1.51%, compared to 163 points at closing on Friday.