Reuters: Global Markets: Monte Paschi shares halted for excessive losses

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Monte Paschi shares halted for excessive losses Jan 22nd 2013, 09:03 MILAN | Tue Jan 22, 2013 4:03am EST 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.

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