The FTSE Mib index then recovered some ground to show a loss of 0.73 percent at 15,166 points at around 0735 GMT, with bank stocks -- which have been among the hardest hit recently -- doing much better, supported by the short-selling ban which applies directly to them.

Mediobanca was up 2.33 percent and Banca Popolare Milano gained 0.90 percent.

Copyright AFP (Agence France-Presse), 2010