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Stock exchange: Mps in flight, confidence in new partners

While awaiting the shareholders' meeting, set for November 24, the market is betting on CEO Morelli's ability to find one or more investors willing to enter the Sienese bank's capital

Ps still in orbit at Piazza Affari. After yesterday's +22,2%, today is mid-morning Montepaschi's share on the Stock Exchange it gains 4,6% (after coming close to +8%), scoring one of the best increases in the Ftse Mib. On the other hand, it had lost 9% on Friday and 19% in the last week.

Triggering the new wave of purchases on Monte dei Paschi shares is the bet that they will eventually find each other one or more investors willing to enter the capital, focusing on the recovery of the institution based on the direction traced by the new managing director, Marco Morelli.

According to an indiscretion reported by the Sole 24 Ore, in fact, the CEO will leave tomorrow for London and then he will also come back for New York to meet other potential anchor investors.

Meanwhile, the date of theShareholders' Meeting, set next 24th November. On the agenda is the go-ahead for the re-capitalization plan which aims to raise around 5 billion euro, partly from the conversion of subordinated bonds into shares, partly from the entry into the capital of core investors and partly from the launch of a capital increase.

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