Monte Paschi shares open up 4.5 pct, bank confirms derivatives loss

MILAN Thu Feb 7, 2013 3:14am EST

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MILAN Feb 7 (Reuters) - Banca Monte Paschi shares opened up 4.5 pct on Thursday the day after the bank said derivatives losses were in line with expectations.

Italy's third biggest lender said on Wednesday losses linked to three problematic derivative trades totalled 730 million euros ($988.3 million) as it sought to draw a line under a scandal over risky financial transactions.

The bank is holding a conference call with investors at 0830 GMT.

(Reporting by Jennifer Clark; editing by Francesca Landini)

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