We'd Stay Away From Banks With Capital Woes, Says Jullier
Banca Monte dei Paschi di Siena SpA swung between gains and losses after Chief Executive Officer Marco Morelli pledged to begin talks with investors to help raise capital as he seeks to return the ailing lender to profit. The world’s oldest bank is targeting profit of 978 million euros ($1.1 billion) in 2018 and 1.1 billion euros in 2019, it said on Tuesday. The Stoxx Europe 600 Index added less than 0.1 percent at 10:59 a.m. in London, giving up gains of as much as 0.4 percent. Firms in Italy led losses among lenders, with UniCredit SpA and UBI Banca SpA sliding at least 4 percent. Citigroup Global Head of Equity Trading Strategies Antonin Jullier discusses the outlook for European banks with Mark Barton on "Bloomberg Surveillance."