FTSE MIB is down 1.6% as Atlantia shares take a tumble
The index traded lower by 1.9% at one point earlier, to its lowest levels since April 2017. The decline is led by Atlantia, whose shares have fallen by more than 20% on the day following the Genoa motorway bridge collapse.
The Italian government has said it would revoke the toll concession held by Autostrade, Atlantia's subsidiary, without waiting for the investigation to complete and deputy prime minister Di Maio has come out to say that they won't pay Atlantia to cancel the agreement either.
As a result, Atlantia has warned investors to brace for a "financial hit" and we're seeing shares tumble because of the situation.
