The Cyprus effect does not last: Piazza Affari first suffers and then sinks in the afternoon (-2,5%), dragging with it the other European lists (with the exception of Frankfurt and London) which were all positive in the morning, following the rumors of a possible new rating cut by Moody's on Italy linked to the political uncertainty around the birth of the new government. To cause the collapse of the FtseMib in the afternoon are the banks, which recorded significant falls: Intesa Sanpaolo -5,7%, Unicredit -5,3%, Ubi -5%, Banco Popolare -4,8%.
Meanwhile, on the other side of the Mediterranean, Bankia is also collapsing: the shares of the Spanish bank sink by 41% to 0,148 euros, as part of the restructuring imposed by Brussels and following the downgrading of the rating by Standard & Poor's by one notch to BB- with negative outlook.
The Btp-Bund spread also rose, which in the morning had fallen close to the threshold of 300 basis points, only to then rise above 320, reaching a maximum of 326 basis points in the early afternoon.
