Budget boost gives hope to outcast Italian banks

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By David Freitas
04 Jul 2019

Italian banks rushed to make use of favourable market conditions this week, with Banca Monte dei Paschi di Siena and UBI Banca bringing new deals and Fineco Bank lining up an additional tier one (AT1). The window opened after the EU and the Italian government settled their scrap over the latter's budget targets, but market participants fear it won't stay open for long. Daivd Freitas reports.

Conditions for Italian borrowers have turned around completely in the space of just a few days, with financial institutions that had previously been shut out of the market finding that they had once again gained access to funding or capital.

The catalyst came on Wednesday, when the European Commission ...

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