Italian assets are under pressure again, says UBS, which forecasts "months of scrutiny on the budget" by Italian, European and rating institutions. The fresh uncertainty drags both the country's FTSE MIB index and Milan-listed banks. Banca Monte dei Paschi is down 4.6%, Unione di Banche Italiane trades 3.4% lower, BPER Banca is down 3.1%, Poste Italiane, which also offers banking services, is down 2.9%, Mediobanca and UniCredit are down 2.7%, Intesa Sanpaolo is down 2.3%, Banco BPM is down 2.2%. The FTSE MIB traded 1.5% lower at a 17-month record in early trading, but is now trading 1.2% lower. (donatopaolo.mancini@dowjones.com; @donatopmancini)

(END) Dow Jones Newswires

October 02, 2018 04:55 ET (08:55 GMT)

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