FTSE MIB hits one-month lows in trading today
Losses are led by banks and utilities, as the index is now down by 1.1% on the day. Italian banks are the largest holders of the country's sovereign debt, and financials account for almost 40% of the index's weighting.
The government programme released earlier fails to mention anything about the rumoured €250 bn debt write-off earlier in the week, and also drops any reference to a process on exiting the Euro. The latter should be welcome news, but it is much expected from yesterday already.
Despite the fall today, the FTSE MIB remains the biggest gainer in terms of European equities on a year-to-date basis, up by 7.6% still on the year.
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