The Milan stock exchange's FTSE Mib
index shed more ground after the opening of trading on Friday,
dropping by 1.7%, as the international money markets continued
to feel the fallout of US President Donald Trump's new tariffs.
The Milan bourse 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 BPER losing 4.8%, MPS and Unicredit 4.2%, Popolare
Sondrio 4.1% Banco BPM 4% and Intesa 3,5%, and insurers
Generali and Unipol shedding 2.7% and 2.5%, respectively.
The spread between Italy's 10-year BTP bond and the German Bund
rose to 115 basis points from 112 on Thursday, even though the
yield on the BTP fell to 3.71% from 3.77%.
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