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Shares in Carige up 2 pct as it gears up to sell bad loans
May 2, 2017 / 7:37 AM / 7 months ago

Shares in Carige up 2 pct as it gears up to sell bad loans

MILAN, May 2 (Reuters) - Shares in Banca Carige rose 2 percent on Tuesday, leading gains among Italian banks after the lender said it would sell around 950 million euros in bad loans by the end of June at a price no lower than forecast in its business plan.

Carige, which has been told by European Central Bank supervisors to cut its bad debts, also said late on Friday its chief executive was finalising talks with five banks to carry out a planned 450 million euro ($491 million) share issue.

By 0729 GMT shares in Carige rose 2 percent at 0.26 euros each against a 1 percent rise in Italy’s banking stock index . ($1 = 0.9158 euros) (Reporting by Valentina Za; editing by Francesca Landini)

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