January 10, 2018 / 12:02 PM / a year ago

Monte dei Paschi leads gains in Italian banks

MILAN, Jan 10 (Reuters) - Shares in Monte dei Paschi di Siena rose more than 6 percent on Wednesday, leading gains in Italian banks fuelled by an improving economy and the ongoing decrease in the stock of bad bank loans, traders said.

Italy’s banking index rose more than 2 percent by 1151 GMT. Shares in Intesa Sanpaolo and Banco BPM rose 3 percent.

The Bank of Italy on Wednesday said gross bad debts at Italian banks fell 6.4 percent from a year earlier in November compared with an year-on-year drop of 5.5 percent in October.

Reporting by Valentina Za, editing by Giulia Segreti

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