Monte dei Paschi shares suspended after Italian bank fails EU stress test

first_imgMonday 27 October 2014 9:55 am Monte dei Paschi shares suspended after Italian bank fails EU stress test Shares of Italy’s third largest bank Monte dei Paschi di Siena were suspended this morning, after plummeting on the back of the news it had failed the EU-wide stress test.  Monte dei Paschi’s share price fell around 15 per cent this morning before shares were suspended.  This is the second time in a month authorities have had to intervene within trading in the troubled bank. Two weeks ago short selling was banned for a single day after its share price fell more than 14 per cent to the lowest level since it went public in 1999. Monte dei Paschi was one of nine Italian banks to fail the stress test, carried out by the European Central Bank, it emerged on Sunday.  The test found that the bank – the world’s oldest – had a €2.1bn funding shortfall, meaning it could now seek a merger or takeover. It has reportedly already received bids, and has reportedly hired UBS and Citigroup to advise.  In total 25 banks failed the test, but all the UK banks tested have passed. The aim of the tests was to assess the resilience of EU banks to adverse economic developments and determine whether they could withstand another financial crisis.    whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comYahoo! SearchResearch Car Donation For CharitiesYahoo! SearchThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar Programinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.comMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity Mirror Share whatsapp Tags: NULL Catherine Neilan Show Comments ▼last_img

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