Italian stocks drop

Italy's stock market plunged more 4.0 percent on Friday after a key US jobs report came in much weaker than expected and as the Italian government faced trenchant criticism over its planned austerity budget. At around 1515 GMT, the benchmark FTSE Mib index in Milan was down 4.03 percent, with particularly sharp losses for lenders Banca Popolare di Milano and Ubi Banca.
Stocks were also hit by fresh doubts about Greece's financial rescue plan. Italy's bond market too came under renewed heavy pressure on Friday, with the difference between Italian 10-year government bonds.