Monte Paschi First-Quarter Results Beat Estimates on Revenue
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Banca Monte dei Paschi di Siena SpA, the bailed-out Italian bank embroiled in a fraud probe, reported a smaller first-quarter loss than analysts estimated as revenue exceeded forecasts.
Monte Paschi rose as much as 8.5 percent in Milan trading after reporting a net loss of 100.7 million euros ($130 million), less than the 154 million-euro average loss estimate of nine analysts surveyed by Bloomberg.