Italy in CRISIS: Monte dei Paschi bank shares SUSPENDED after huge plunge

ITALIAN bank Monte dei Paschi di Siena (MPS) saw its shares suspended in morning trading, following details of a new rescue plan for the troubled lender.

By LANA CLEMENTS
Express.co.uk
Tue, Oct 25, 2016

Investors rushed to sell, sparking a 23 per cent drop in the stock price, after it was confirmed Europe’s weakest bank plans to cut 2,500 jobs and close 500 branches.

MPS is also hoping to sell off around €28billion (£25bn) worth of bad loans, which have weighed down Italy’s oldest lender and spooked markets in recent months.

The plan was intially met with market cheer that pushed the bank’s share price up.

But frenzied selling soon took hold, forcing a suspension in trading.

The Rest…HERE

This entry was posted on Tuesday, October 25th, 2016 at 12:01 pm and is filed under Conspiracy, Corruption, Economics, Government Evil, New World Order. You can follow any responses to this entry through the RSS 2.0 feed.