UniCredit launches a $10 billion all-share offer to acquire domestic rival Banco BPM that would see it leapfrog Intesa Sanpaolo as Italy's largest lender by assets. The move comes amid accelerating European bank merger activity, especially by UniCredit CEO Andrea Orcel who is also considering a bid for Commerzbank. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards and Guy Johnson.