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Italian Banks Crash Despite ‘All Clear’ From EU Stress Tests

Bank_Panic_in_Italy

  • Italian Banks Crash Despite ‘All Clear’ From EU Stress Tests
    by Tyler Durden, http://www.zerohedge.com 
    For a few minutes at the open, mainstream business media persuaded itself that the EU stress tests had proved that everything was fine in Europe’s banking system again. But very quickly, things went south with Italian banks – the center of the storm – reversing gains and then extending losses with Unicredit now down 8% (after being up 4%).

    As Citi’s Christian Schulz notes, “The 2016 stress test is unlikely to fully restore investors’ trust in the eurozone banking system, in our view.” And it seems he is right… 

    read more.
Monte Paschi is holding gains amid its massively dilutive capital raise, but this is noise across the stock's bid-offer.

Monte Paschi is holding gains amid its massively dilutive capital raise, but this is noise across the stock’s bid-offer.

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August 2, 2016 - Posted by | Economics | , , , , , ,

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