Shares end mixed for Italian banks

Shares in Italian banks Banca Monte Paschi di Siena and UniCredit had mixed fortunes as both took steps to raise fresh funds.

Monte Paschi is making a last-ditch effort to raise funds as the prospect of a state rescue looms.

After regulators rebuffed its request for an extension, the world’s oldest bank said it will press ahead with a plan to raise €5bn from investors in the next 19 days.