Milan bourse rising on new UniCredit CEO

(ANSA) - Milan, June 30 - The Milan bourse swung up 0.4% after opening 1.2% down Thursday as banking stocks continued to recover.
    UniCredit rose 2.3% after ex-SocGen chief Jean-Pierre Mustier was named new CEO, replacing Federico Ghizzoni who stepped down after months of investor dissatisfaction.
    Mustier is the former investment banking chief at UniCredit, Italy's biggest bank by assets. He will officially take office on July 12.
    Mustier, 55, began his career at Société Générale where he held various positions, primarily within the corporate & investment banking division from 1987 to 2009. In 2003 he was appointed head of Société Générale's corporate & investment banking division and member of the bank's executive committee. Afterwards, from 2011 to 2014, he joined UniCredit Group as deputy general manager and head of the corporate & investment banking division. Currently he is a partner at Tikehau Capital, an investment management company and member of the board of directors of Alitalia, according to a statement.
    His appointment will be subject to an assessment by the European Central Bank (ECB), in line with current regulations. UniCredit stocks climbed to 1.97 euros, bringing with it Intesa stocks, which rose by 0.79%, as well as BPM (+2.17%) and Banco Popolare (+1.02%), which in the early morning had been dropping sharply. Still weak are MPS (-3.4%), UBI (-0.96%) and Carige (-3.16%).