Shares rise in Italian banks amid hopes for investor help
MILAN — Shares are up in Italy’s banks amid hopes that a new government will provide the political stability needed for them to raise billions in cash from investors.
The most troubled lender, Monte dei Paschi di Siena, saw its stock price rise over 7 percent on Monday after it said over the weekend that it is moving ahead with a plan to raise 5 billion euros ($5.2 billion) from private investors by the end of the year.