Italy’s Stock Exchange capitalization drops to lowest level since 2010
The weight of the Italian Stock Exchange on the country’s GDP dropped to 21% at the end of the second quarter, according to data released by Italy’s stock exchange watchdog Consob.
Total Stock Exchange capitalization passed from €459.2bn in the first quarter of 2010 to 327.1bn at the end of June 2012, the lowest level in over two years.
The worst performers were financial companies, which over the last 30 months have lost half of their value.
Banks and insurance companies were worth €166.8bn at the beginning of 2010, and their value has dropped to €81.7bn in the first half of 2012.
The industrial sector was relatively stable, capitalizing a total of €177.8bn at the end of 2010 and of €159.8bn in the second quarter of 2012.
Eni, with a capitalization of €66.5bn remains the biggest Italian company, followed by Enel (€23.5bn), Intesa Sanpaolo (€17.5bn) and Unicredit (€16.4bn).