Meanwhile, Something Is Still Wrong In Italy

Last night we discussed some troubling trends in Italy — namely the dumping of its banks and sovereign credit, as well as the combustible political environment.

So we note that it’s interesting that while Greece rallies, and the rest of Europe rallies in sympathy, the FTSE MIB index (Milan) falls yet again.

chart

Meanwhile, shares of UniCredit, the major bank, had been up earlier, but is now down 1%.

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