Italian Banks Dragged by Budget Uncertainty: UBS -- Market Talk
October 02 2018 - 5:10AM
Dow Jones News
Italian assets are under pressure again, says UBS, which
forecasts "months of scrutiny on the budget" by Italian, European
and rating institutions. The fresh uncertainty drags both the
country's FTSE MIB index and Milan-listed banks. Banca Monte dei
Paschi is down 4.6%, Unione di Banche Italiane trades 3.4% lower,
BPER Banca is down 3.1%, Poste Italiane, which also offers banking
services, is down 2.9%, Mediobanca and UniCredit are down 2.7%,
Intesa Sanpaolo is down 2.3%, Banco BPM is down 2.2%. The FTSE MIB
traded 1.5% lower at a 17-month record in early trading, but is now
trading 1.2% lower. (donatopaolo.mancini@dowjones.com;
@donatopmancini)
(END) Dow Jones Newswires
October 02, 2018 04:55 ET (08:55 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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