Bank Shares Faced With More Threats Aside From Recovering Economy
Although European shares have slightly recovered from a drop following the result of the Italian referendum before declining back again in less than twelve hours after the vote, shares of Italian banks are posting bigger losses on Italian Prime Minister Matteo Renzi’s defeat on the referendum.
Italian banks such as the Banca Monte deiPaschi di Siena faced threats of plunging shares after the Italian voting public chose to remain with their current government and refused to accept changes in their constitution. This led the Italian government to face a crisis in spite of the efforts from investors to recapitalize banks in the country. Italy’s largest bank Unicredit also dropped down by almost 5.5%.
FSM News is more than an essential bookmark; it is a revolutionary media platform that presents breaking news on the market in the simplest way possible. With the fast pace developments in the finance industry, it is not easy to stay well-informed of all the key issues that drive market movements. Hence, we have created this platform to provide the most relevant market information and analysis on a daily basis.