Shares in Italian banks have plunged again, making Milans FTSEMib blue index the worst loser in Europe, even as prime minister Matteo Renzi made his latest attempt to shore up confidence in the battered sector passing a bill to reform governance of 4,000 cooperative banks and offer state guarantees for bad loans.
Shares in UniCredit, Italys largest bank by assets, and Intesa Sanpaolo, Italys second largest bank by assets and its largest domestic lender were both down 6 per cent, wiping a brief day of gains on Wednesday.
Banca Monte dei Paschi di Siena, its third largest bank by assets and the worst loser of 2014s European bank health check, was down more than 8 per cent, valuing its shares are less than half a euro each. The FTSEMi…
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