Milan

Milan stock exchange loses over 3%

Federal reserve end-of-stimulus comments hurt shares

Milan stock exchange loses over 3%

Milan, June 20 - The Milan stock market's FTSE MIB index fell 3.09% on Thursday, led by drops in the stocks of banks and media company RCS, after the US Federal Reserve indicated it may fade out the stimulus measures and stop its bond purchase next year if the world's largest economy continues to post economic growth in line with forecasts. Banks posted some of the biggest losses during the day's trading. Trading in Banca Popolare di Milano was suspended after its price exceeding the 10% volatility threshold, while Banca popolare dell'Emilia Romagna lost 7%. Italian media company Rcs, which controls Italy's leading newspaper Corriere della Sera, was also suspended. Investment holding company Exor was the only major stock on a positive track during the day's trading, gaining around 0.2%.

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