Mps, continues the race of the title: +56% in one week – The Republic

ROME – does Not stop the running of the Monte dei Paschi di Siena. Friday since the opening of trading have broken down the purchases on the bank of siena, which after a couple of suspensions for excess to the upside, closed higher by 13.3% above the threshold of 27 cents (follow the title in direct), a value not seen since August. Mps registered a real boom of trade, have changed hands more than 350 million of securities, equal to about 12% of capital, compared to 71 million, the average daily last month.

For the Mps it is the fourth consecutive day sharply, after +14% recorded on Thursday, the +7% Wednesday, and the +13% on Tuesday, when the board of directors of the institute, has announced his intention to ask for more clarification on the consolidation plan as an alternative to Jp Morgan, put together by Corrado Passera: in one week the stock has recovered to 56%. On the other hand, the plan would reduce from 5 to less than 2 billion euros the amount of the capital increase to be carried out. Monday, then the ceo Mark Morelli will present to the board of amministraizone the new industrial plan, which the markets expect a strong action of cost reduction.

From the beginning of the week, when he is traveling at a historical low, just above the 17 cents a share, the title of the Monte dei Paschi has gained nearly 40%. Even if the bank is still missing a quarter of the market capitalisation that was at the end of July, when the rejection to the stress test of the european banking Authority and the commitments of the Ecb to reduce drastically the book of bad loans, have triggered the most recent wave of sales and led to the replacement of the chief executive officer Fabrizio Viola and Marco Morelli.

The bank is also addressed by prime minister Matteo Renzi: “the president of The council does not intervene in open markets on such a question, I can only reiterate that the Mps has an extraordinary past, and will have an extraordinary future. And then, as between the ex-ministers you prefer is not my problem”. So Renzi has rsiposto to a question on the floor of the Corrado Passera for the revival of the Mps, in contrast to that of Jp Morgan, who sees another former minister, Vittorio Grilli, with an important role.

Topics:

Mps

Piazza Affari

bag

Starring:

Corrado Passera

vittorio grilli