Monte Paschi Surges on Speculation Road Show May Attract Capital
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Banca Monte dei Paschi di Siena SpA climbed the most in two weeks, paring last week’s drop, amid speculation that the troubled Italian lender may be attracting investors for its crucial 5 billion-euro ($5.5-billion) capital increase.
The shares rose as much as 18 percent to 25 cents in Milan trading Monday, following a 20 percent decline last week. The stock has fallen by 80 percent this year, compared with the 18 percent decline for the Bloomberg Banks and Financial Services Index. Monte Paschi was up 14 percent as of 11:52 a.m.