(ANSA) - Milan, December 5 - The Milan stock exchange's FTSE Mib index shed 1.8%, dropping to 16,774 points, after the opening of trading on Monday following Matteo Renzi's announcement he was resigning as premier. Bank stocks were hit hard with UniCredit losing 7.3% and BPM shedding 5.4%.
The spread between Italy's 10-year State bond and the German Bund jumped to 178 basis points early on Monday, following the No victory in Sunday's Constitutional that has prompted Renzi to quit, before dropping back 169 points with a yield of 1.99%.
The spread, an important measure of investor confidence, closed at 162 points on Friday
Milan bourse loses 1.8% after opening
Spread shoots up to 178 points but then drops back