Milan bourse tumbles on deficit

Spread shoots up after deficit-to-GDP ratio of 2.4%
Milan bourse tumbles on deficit
28 September 14:41 2018 Print This Article

 

The Milan stock exchange’s FTSE Mib index shed 3.3%, with bank stocks hit particularly hard. Trading in many banks, including Intesa and UniCredit, was suspended for excessive volatility. The stocks in both were down between 6% and 7%.

The spread between Italy’s 10-year BTP bond and the German Bund climbed to 281 basis points shortly after midday, compared to Thursday’s closing value of 235.5 points. The yield on the BTP went up to 3.24%.

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