Unicredit Tower in Milan
The second largest bank in Italy has lost more than nine percent in value at times in the past.
Credit: IMAGO/ZUMA Wire
Rom The news from Switzerland also caused unrest on the Italian stock exchange this week: on Wednesday, the FTSE MIB stock index, comparable to the German Dax, fell by around 4.6 percent. The decline was stronger than in Frankfurt, London or Paris. The index lost 15 percent within three days. This is because banks are overrepresented in the Italian index compared to other countries.
After the problems at Credit Suisse became known, the biggest drop was recorded by Unicredit, the second largest bank in the country and parent of the German Hypo-Vereinsbank (HVB). The share price lost more than nine percent at times. For all other banks, the minus moved between five and seven percent.
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