Shares in troubled Italian bank rise on rescue deal

Monte dei Paschi was by far the worst performer in stress tests of 51 European banks but sought to head off any speculation about its future with the announcement late Friday of a 5 billion euro ($5.6 billion) capital injection from investors.

Jack Allen, European economist at Capital Economics, said it could also be due to the fact that "Monte dei Paschi was so weak that they would have to offload their non-performing loan book and UniCredit could be on the hook for that."