Monte Paschi Shares Climb After Board Reiterates Full Support for CEO

Dow Jones
2025/12/08
 

By Joe Stonor

 

Banca Monte dei Paschi di Siena shares rose after the Italian lender said it had full trust in Chief Executive Luigi Lovaglio, and that the merger with Mediobanca was continuing at full speed.

Shares were up 31 European cents, or 4%, at 7.90 euros in early afternoon European trading, leading the FTSE MIB index risers. Shares have risen 16% year to date.

The lender said on Nov. 27 that Lovaglio was being investigated by Italian prosecutors in a case related to allegations of supervisory obstruction and market manipulation. It said at the time that the bank would fully cooperate with authorities and provide all necessary information. Lovaglio declined to comment through a bank representative.

It said Friday that after an in-depth assessment the board, under Chair Nicola Maione, unanimously renewed its full trust in Lovaglio, adding that he was compliant with Italian and European regulations.

Lovaglio is leading his bank's 16.15 billion-euro ($18.81 billion) acquisition of Mediobanca, a deal which would create Italy's third-biggest lender.

 

Write to Joe Stonor at josephmichael.stonor@wsj.com

 

(END) Dow Jones Newswires

December 08, 2025 07:03 ET (12:03 GMT)

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