Shares in Banca Monte dei Paschi di Siena opened more than 6% higher today after better than expected first-quarter results and lower loan loss provisions.
This outweighed concerns about falling deposits and weaker capital.
The Tuscan-based bank said its net profit for the period beat forecasts due to lower loan loss charges, an increase in commissions and falling costs.
Profit stood at €93m compared with analyst estimates that ranged between a €5m loss and a €16m profit.
