10/19/2018, 12:51 PM (Source: TeleTrader)
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Italian FTSE MIB stock index falls to 20-month low

Ubi Banca led with losses on Friday in mid-session at the stock exchange in Milan amid a selloff of the country's equities and bonds as the dispute with the European Union over the state budget escalated. The trader was down 5.25% at 12:32 pm CET, followed by Banco BPM's slump of 4.56%. Finecobank, Unicredit and Banca Generali all lost more than 3%. The FTSE MIB blue-chip index was down 0.8% at 18,395.7 points after touching 18,754.24, the lowest mark since February 27 of last year.

British FTSE 100 was 0.16% in the green, the DAX was 0.32% lower in Frankfurt and the CAC 40 traded 0.72% in the red. The euro remained little changed, while Italy's ten-year sovereign bond yield jumped 2.9 basis points to 3.707% at 12:50 pm CET after climbing to 3.784% for the first time in more than four and a half years.

Breaking the News / IT