Markets

Milan stocks drop over 3 percent

Published January 28, 2016 Updated January 28, 2016 03:00pm

1 min

By Imad Uddin

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MILAN: Shares in several Italian banks plunged Thursday, dragging the Milan FTSE Mib index down over 3.0 percent in mid-day trading as the sector continued to be battered by consolidation concerns.

The index was down 3.37 percent, with Banca Monte dei Paschi di Siena (BMPS) leading the decline, falling 7.45 percent. Banca Popolare di Milano lost 6.58 percent and Unicredit slid 6.37 percent.

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