Markets
Milan stock exchange slumps 3pc as banks hit by debt worries
MILAN : Milan 's main stock index, the FTSE Mib, slumped more than three percent in late trade Friday as bank shares we
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MILAN: Milan's main stock index, the FTSE Mib, slumped more than three percent in late trade Friday as bank shares were hit by fears the eurozone debt crisis would spread to Italy.
The country's leading bank Unicredit was hit the hardest, dropping 6.13 while Intesa Sanpaolo Bank slumped 3.81 percent, Banco Popolare lost 5.80 percent and Banca Popolare di Milano shed 5.21 percent.
10-year bond rates remained steady at 5.301 percent, with the spread or difference above the eurozone benchmark German 10-year Bund rate rose to 2.44 percentage points.
Copyright AFP (Agence France-Presse), 2011
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