Wednesday, January 20, 2016

Milan Stock Exchange sells 3.6% at the start, down oil and banks with MPS on auction at -10% – Reuters Italy

MILAN (Reuters) – Starting in heavy downward Square Business, driven by the energy sector which is affected by the new collapse in crude oil prices and banks that continue to be the target of speculation.

At around 9.30 the FTSE Mib yields 3.6%, the AllShare 3.4%. Online trends of the European benchmark FTSEurofirst 300 (-2.97%) after heavy losses in Asian markets also.

** Banks increasingly targeted on fears related to the amount of suffering still belly institutions. MPS begins to treat delayed and is now in auction after a decline of 10.68% and have lost more than 14% yesterday. Year to date has almost halved its value and start marks a theoretical downward by more than 8% despite having been extended the ban on short sales. Before the opening of the bag AD Fabrizio Viola tried to reassure markets, pointing out that the fundamentals of the bank continued to improve in the fourth quarter.

UNICREDIT lost more than 5%, and POP MILANO BANCO POPULAR end up in volatility auction respectively -4.9% and -6.2%; Carige -7.6% between European banks down 3.5%.

** The descent of US crude around 27 dollars a barrel is ditching the oil sector in Europe (-3%). Saipem, after a slip to -7% that brought in the auction, has returned to treat -4.5%; ENI sells nearly 3%.

** Heavy FIAT and CHRYSLER FERRARI EXOR with that slide into a volatility auction.

** More resistant in defensive stocks like ATLANTIA and utilities.

On www.reuters.it other news Reuters in Italian. The top news also on www.twitter.com/reuters_italia

© Thomson Reuters 2016 All prior written Reuters.

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