May 23, 2019 / 11:34 AM / a month ago

Italian banks slide 20% from mid-April peak amid renewed budget tensions

LONDON, May 23 (Reuters) - Italian banks index has slipped 20% from mid-April peak, confirming that the battered sector is in bear market, amid renewed worries about a showdown between Rome and Brussels over the euro-zone’s No. 3 economy’s budget.

The sharp slide over the last few weeks has come even as regulatory data showed funds have reduced their bearish bets on the battered sector in recent months.

Reporting by Thyagaraju Adinarayan; editing by Josephine Mason

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