The Milan stock exchange rose
on Friday following the announcement of new stimulus measures by
European Central Bank President Mario Draghi and a rise in oil
prices.
The news that oil prices has risen to $31 a barrel in fact
boosted stock markets across Europe.
The Milan stock exchange's benchmark FTSE Mib index was
1.63% up, closing at 19,028 points.
Oil and gas industry contractor Saipem, a subsidiary of
Italian energy company ENI, crashed 20% to close at 4.20 euros a
share - its lowest since September 2001.
The company announced overnight that the deadline fixed for
a 3.5-billion-euros capital increase would be Monday, with a 37%
discount expected for terp, the theoretical ex-rights price.
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