Milan stocks down sharply after Moody's warning

  • Business Premium
  • Tuesday, 21 Jun 2011

MILAN (AP) - The Milan stock exchange closed down sharply Monday after ratings agency Moody's warned it may reduce Italy's credit rating and eurozone finance ministers failed to reach a deal on an immediate bailout for Greece.

The Milan benchmark FTSE MIB index dropped 2.01 percent to 19,692 points, recovering a bit from steeper losses on opening. The losses outpaced other European indices, which also suffered from the Greek debt impasse.

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