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Paschi Leads Italy Banks Lower Amid Fresh Capital Worries

  • ECB asked Paschi to reduce non-performing loans over 3 years
  • Paschi fell to record low; market value below 1 billion euros
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What's Next for Italy's Troubled Banks?

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Banca Monte dei Paschi di Siena SpA led Italian banks to record lows in Milan, succumbing to fresh concerns that the country’s lenders are under pressure to raise capital.

Monte Paschi plunged 14 percent to 32.9 cents, the lowest since the stock began trading in 1999. The bank has lost about 73 percent this year, reducing its market value below 1 billion euros ($1.1 billion).