Paschi Falls to Record Low as MSCI Prepares to Remove From Index
This article is for subscribers only.
Banca Monte dei Paschi di Siena SpA, the Italian bank saddled with bad debt and seeking a buyer, plunged to a record low after MSCI Inc. said it plans to pull the stock from that country’s index.
Shares in Italy’s third-largest bank fell as much as 13 percent, the lowest since they began trading in 1999, and were down 7 percent to 45 cents at 10:10 a.m.