Monte Paschi shares halted for excessive losses
MILAN (Reuters) - Shares in Banca Monte dei Paschi di Siena (BMPS.MI) were suspended from trading on Tuesday morning for excessive losses following a press report about a loss linked to a derivative contract.
By 0855 GMT the stock was indicated down more than 5 percent at 0.278 euros.
Italian daily Il Fatto Quotidiano reported on Tuesday that a derivative contract designed by Nomura for Italy's third-biggest lender will register a loss of 220 million euros in the bank's results for 2012.
A spokesman for Monte dei Paschi declined to comment.
Nomura was not immediately available for comment.
(Reporting By Danilo Masoni; editing by Stephen Jewkes)