Italian stocks lost nearly 4 percent of their value on Monday, as the country started gradual reopening of national coronavirus lockdown.
The blue-chip index on the Milan-based Italian stock exchange fell 3.7 percent while the overall stock exchange dropped 3.9 percent. About a third of the day’s losses came in the last two hours of trading.
The weakness for stocks in Milan came despite the highly-anticipated start of “Phase 2” of Italy’s national coronavirus lockdown.
As of Monday, Italians were given greater freedom to leave their homes, while restaurants and bars that had been limited to delivery services could elect to offer takeaway menus. Other parts of the economy are set to reopen in future stages scheduled to enter into force every two weeks. Enditem