Milan bourse down, spread up amid Turkish fears
UniCredit under heavy pressure
10 Agosto 2018
Milan, August 10 - The Milan stock exchange's FTSE Mib index was 3% down on 20,984 points with about an hour of trading left on Friday amid fears about the consequences of plunge in the Turkish lira. The spread between Italy's 10-year BTP bond and the German bund, meanwhile, climbed to 264 basis points, with the yield on the BTP close to 3% at 2.96%. The BTP closed at 252 points on Thursday. UniCredit stock was under heavy pressure. The Italian bank owns Turkish lender Yapi Kredi. Its share price was suspended for excess volatility when it was 5.8% down at 13.60 euros, compared to its starting price of 14.46 euros on Friday.