Tuesday, 6 December 2016

Italian Bank Shares Tumble Following Vote


Shares in Italian banks have been hitted hardly following Prime Minister Matteo Renzi's heavy defeat in Sunday's referendum.

There are fears that a period of political uncertainty will hamper efforts by Italian banks to raise fresh finance.

Shares in Monte dei Paschi, one of Italy's most troubled banks, fell 4% on fears that its rescue plan might fail.

Banca Popolare di Milano ended almost 8% lower and Banco Popolare Societa Cooperativa finished 7% lower.

Many Italian banks are struggling with a burden of bad debt and are in need of refinancing.

It was thought that a victory for the Yes camp in the referendum would have seen investors stepping in to help recapitalise the banks.



Etiam at libero iaculis, mollis justo non, blandit augue. Vestibulum sit amet sodales est, a lacinia ex. Suspendisse vel enim sagittis, volutpat sem eget, condimentum sem.