Milan

MPS shares close 8.8% down (3)

Banking sector under pressure

MPS shares close 8.8% down (3)

Milan, May 17 - Shares in troubled Tuscan bank Monte dei Paschi di Siena (MPS), Italy's third-largest bank, closed 8.8% down on the Milan bourse on reports a new government may intervene to revamp it. But the stock was still around 6% higher than it was on Friday when a return to profit in the first quarter was announced, boosting the share price for several days. The banking sector suffered Thursday with UBI closing 2.71% down and Unicredit 1.8% down. Tension on Italian State paper was limited.

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