Milan drops 0.69% as markets lose more ground

Low manufacturing managers' confidence hits investor sentiment

Milan drops 0.69% as markets lose more ground

(ANSA) - Milan, July 24 - The Milan stock exchange lost 0.69% in early trading on Monday, when the main European markets conceded more ground after sustaining big losses on Monday. Milan's FTSE Mib index was 5% down at one point Monday, taking it to a euro-era low, before reducing the losses to 2.7% after stock-market regulators banned short selling for a week to stop speculative trading. Analysts said a surprisingly big fall in the index of the confidence European manufacturing managers on Tuesday, which dropped to 44.1 points compared to an expected 45.2, hit investor sentiment. London lost 0.2% in early trading, Paris was 0.24% down, Frankfurt dropped 0.39% and Madrid fell 1.30%.

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