(ANSA) – ROME, APR 4 – The Milan stock exchange’s FTSE Mib index was 7.1% down on 34,418 points in the middle of Friday’s trading session, with 61 billion euros in capitalization going up in smoke, as the international money markets continued to feel the fallout of US President Donald Trump’s new tariffs.
The Milan bourse had already lost 3.6% of its value on Thursday after Trump on Wednesday announced the tariffs, including a 20% hike on the duties on EU imports.
Bank and finance stocks were hit especially hard again on Friday, with the share prices of MPS, Banco BPM and Popolare di Sondrio losing over 11%.
UniCredit and Mediolanum were down 10%, while Mediobanca and Intesa shed 9%.
The spread between Italy’s 10-year BTP bond and the German Bund rose to 121 basis points from 112 on Thursday, even though the yield on the BTP fell to 3.72% from 3.77%. (ANSA).
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The Milan bourse had already lost 3.6% of its value on Thursday after Trump on Wednesday announced the tariffs, including a 20% hike on the duties on EU imports.
Bank and finance stocks were hit especially hard again on Friday, with the share prices of MPS, Banco BPM and Popolare di Sondrio losing over 11%.
UniCredit and Mediolanum were down 10%, while Mediobanca and Intesa shed 9%.
The spread between Italy’s 10-year BTP bond and the German Bund rose to 121 basis points from 112 on Thursday, even though the yield on the BTP fell to 3.72% from 3.77%. (ANSA).
Read article…
