Monte dei Paschi Falls to Record Low on Capital Concern
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Banca Monte dei Paschi di Siena SpA extended a three-day losing streak in Milan, falling to the lowest on record amid concern it may need additional capital as a result of the European Central Bank’s tests.
Monte dei Paschi, Italy’s third-largest bank, fell as much as 8.6 percent to 81.85 euro cents as of 11:55 a.m. in Milan, the lowest since the company’s shares began trading in 1999. The stock dropped 25 percent this year, leaving the Siena, Italy-based bank with a market value of 4.2 billion euros ($5.4 billion).