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By 0820 GMT shares in UniCredit lost 4.5% and Intesa around 4%.
The sell-off overnight was sparked by a capital raising at SVB Financial Group SIVB.O, a small Silicon Valley bank that had to sell bonds at a loss to repay depositors.
(Reporting by Valentina Za Editing by Keith Weir)
((valentina.za@thomsonreuters.com; +39 02 6612 9526;))
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