Yet another nightmare day for Monte dei Paschi which, after losing 30% since the beginning of the year, is once again hit by a flurry of sales. The MPS share was suspended several times due to excessive downtrend, reaching an intraday low of 0,748 euro. It would currently be stuck in a volatility auction with a theoretical fall of 14,70%
The very heavy sell-off that hit the Sienese bank's shares prompted Consob to ban short selling on Banca Mps. Based on what is stated in a note released by Borsa Italiana on behalf of the Commission, the prohibition enters into force immediately and will last for the entire session tomorrow.
At the basis of Monte dei Paschi's crash there would be indications linked to the launch of a new investigation by the ECB on the state of non-collectable loans in the European banking system. This is an action linked to the new supervisory role of the ECB, but the news could have serious repercussions on the Italian banking system due to the high level of non-performing loans that characterizes the entire sector.
