The Milan stock exchange plummeted
2.6% in early trading on Monday, with bank stocks taking a fresh
pounding after over a week of turbulence on the international
money markets and the rescue of Swiss bank Credit Suisse
announced at the weekend failing to dispel investor concerns.
MPS was down 6.6%, Unicredit lost 6.5%, Intesa shed 5% and
trading in Bper was suspended for excessive volatility.
The spread between Italy's 10-year BTP bond and the German Bund,
meanwhile, went up by eight basis points to go above the 200
points threshold to 203.
The yield on the BTP dropped by six basis points to 3.98%, but
those of other European bonds fell much further as many
investors moved money into State paper.
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