An update to a story we hit this morning: The Italian market still isn’t trading, and according to FT there’s growing anger in Italy and London because everyone wants to dump their Libyan-related stocks.
The ties between the two countries are deep, and Libya’s central bank and its sovereign wealth fund own 7.2% of UniCredit, the big Italian bank.
Responding to these concerns, UniCredit fell 5% in Monday trading. Bear in mind that during the worst periods of the euro crisis, UniCredit was slammed hard like other peripheral banks.
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