Milan stock exchange closes +1.63%

Saipem plunges 20%

(ANSA) - Milan, January 22 - 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.