War in Ukraine weighs on Milan stock exchange, with 2.35% drop

Rome, March 3 (EFE). – The Milan Stock Exchange closed lower today and its selective index FTSE MIB declined by 2.35%, to stand at 23958.83 points, affected by the invasion of Ukraine by Russia, on the eighth day of the armed conflict.

For its part, the general index FTSE Italy All-Share fell 2.44% to 26,140.23 integers.

During the session, 1,706 million shares were traded at a value of 3,220 million euros (about 3559 million US dollars at current exchange rates).

Investors in Milan reacted by selling off the course of the war in Ukraine after the Russian invasion and in fear of the sanctions imposed by the West on Vladimir Putin’s regime.

But also to the increase in interest rates announced by the US Federal Reserve.

After eight days of war and a respite in the stock market on Wednesday, red numbers prevailed in the Italian market, so much so that only two eclectic titles ended up: Cnh Industrial (1.57%) and Campari Distillery (0.19%).

On the contrary, in the negative field, Telecom Italia stood out, which fell by 13.99% after the approval of the new industrial scheme and last year’s accounts.

The banking sector was also penalized: Banco Populari Milano lost 7.35%, Banca Populari Emilia-Romagna 5.23% and Intesa San Paolo 2.89%.

In addition to an important part of the energy sector, against the background of the Russian crisis: the oil company Eni lost 4.57% and Enel 3.48%. EFE

GSM/EG

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