Safest place for them to be - the rest of them have slumped to bring the Italian index to new lows. From MarketWatch.com
Italian stocks poised for record low closing level
LONDON (MarketWatch) — Italian stocks were poised to close at the lowest level on record on Monday, as investors heavily sold off European equities amid concerns over Greece’s future in the euro zone and Spain’s debt problems. The FTSE MIB index tumbled 4.8% to 12,443.74, weighed by steep drops for the index’s banks. Intesa Sanpaolo SpA tanked 9%, while UniCredit SpA plunged 6.7%, after trading in both stocks was halted for about an hour in early morning trade. Shares of Banca Monte dei Paschi di Siena SpA tumbled 9%. Yields on benchmark 10-year Italian government bonds rose 20 basis points to 6.34, according to electronic trading platform Tradeweb. Pressure also intensified on Spanish government bonds, sending the yield on 10-year paper 25 basis points higher to 7.44%. Spain’s stock index, the IBEX 35 index , slumped 5.2% to 5,920.10, on track to close at its lowest level since early June. Banco Popular Espanol SA sank 8.4%, while BBVA SA lost 5.8%.
