(ANSA) – ROME, APR 4 – The Milan stock exchange’s FTSE Mib was down by over 7.5%, with over 60 billion euros in capitalization going up in smoke, just after the half-way mark of Friday’s trading, similar to the 7.57% loss it endured on September 11, 2001 after the attack on the World Trade Center in New York.
It was not, at the time of writing, the worst session since then.
The index lost 12.48% after Britain voted to leave the European Union on June 24, 2016, and 8.24% on October 6, 2008, after Lehman Brothers went to the wall.
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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It was not, at the time of writing, the worst session since then.
The index lost 12.48% after Britain voted to leave the European Union on June 24, 2016, and 8.24% on October 6, 2008, after Lehman Brothers went to the wall.
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…
