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Home / Business / The banks weakened the Italian stock market after the sell-off of the bond

The banks weakened the Italian stock market after the sell-off of the bond



Italian equities faced another print day and reached a 13-month low as bank stocks continued to sell due to the tense political situation.

The reference index FTSE MIB fell by 2.2 percent immediately after the opening of trading in Milan. Recently, the decline fell to 1

.44 percent.

For the second consecutive day, Italian banks were among the worst performers on European stock exchanges. Ubi Banca fell by nearly 5 percent, UniCredit by 3.3 percent and Intesa Sanpaolo by 3.1 percent.

Dramatic changes on the Italian bond markets on Monday and Tuesday underscored the growing sense of fear for the future of the Italian government. After the weekend's collapse in the coalition between the Five-Star Movement and the League, many analysts expect early elections in the fall.

Also on Tuesday, the worries have slipped on the foreign exchange market, the euro fell to its lowest level since November 2017.

On the other side of the spectrum was on Tuesday, a supposedly suitable assets offered. Yields on German government bonds and US Treasuries fell and signaled higher prices. Meanwhile, the Japanese yen climbed 0.5 percent against the US dollar.


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