MPS and Milan bourse rising despite No vote

'No request for ESM loan', says spokesman

(ANSA) - Rome, December 7 - The stocks of troubled Tuscan lender Monte dei Paschi di Siena (MPS) rose Wednesday after it confirmed the day before that it had received over one billion euros in voluntary conversions of subordinate bonds.
    The bank on December 2 published preliminary data on the scheme, a major plank of a five-billion-euro fundraising aimed at ensuring the survival of the Siena-based bank.
    The Milan bourse has been rising since the beginning of the week despite the No vote in Sunday's Constitutional reform referendum. The FTSE was up 1.31% at midday on Thursday and was driven by banking sector stocks including MPS, which was up by 7.14%. The markets are keenly awaiting Thursday's decision on European Central Bank (ECB) interest rates and a speech by ECB chief Mario Draghi.
    ANSA was told by a spokesman for a European bailout fund on Wednesday that there had not been "any request or discussion with Italian authorities about a possible European Stability Mechanism (ESM) loan" in reference to reports in the media about requests for 15 billion euros to bail out MPS and other credit institutes.


Change cookie consent