The Milan stock exchange outperformed European markets Friday as its benchmark FTSE MIB index of blue chip shares added 1.96% to close at 16,846 points.
Investors were bullish on banks ahead of EU stress test results expected later in the day, with Monte dei Paschi di Siena (MPS) jumping 6.2% to 0.3 euros, followed by UniCredit (+5.8%), BPER (+5.4%), Mediobanca (+4.7%), and Intesa Sanpaolo (+3.5%).
Assicurazioni Generali insurance giant also helped drive the index upward, adding 7.1% to close at 11.78 euros on the day it posted first-half results that exceeded expectations.
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