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REFILE-Monte dei Paschi's shares up 6 pct in early trade
October 26, 2017 / 7:19 AM / 24 days ago

REFILE-Monte dei Paschi's shares up 6 pct in early trade

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MILAN, Oct 26 (Reuters) - Shares in Monte dei Paschi di Siena rose as much as 6 percent on Thursday, its second day of trading after a 10-month suspension triggered by the Italian bank’s request of state aid.

By 0713 GMT shares in the bank traded up 4.26 percent at 4.74 euros each.

The stock opened on Wednesday at 4.10 euros, which became the reference price for the day, and closed up 11 percent.

Despite the rise, the share price is well below the around 7 euros the Italian government paid for its 68 percent stake in the bank, implying a large paper loss for the state.

Some traders have said some investors have been unable to sell the stock because not all shares issued in a debt-to-equity swap the bank carried out as part of its rescue have been made available yet. (Reporting by Valentina Za; editing by Francesca Landini)

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