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  • MILAN— The head of the Italian Banking Association says that the European stress test has restored credibility to the nation's banking sector. Italian Banking Association President Antonio Patuelli said Saturday that "the credibility of Italian banks has been reinforced," but he called for continued reforms in the sector. Monte Paschi sought to get ahead of...

  • Plan has approval from European Central Bank- sources. MILAN/ SIENA, July 29- Italian lender Monte dei Paschi di Siena unveiled a plan on Friday to prevent its centuries-old business from being wound up by regulators, a privately funded overhaul that Rome hopes will help stabilise the country's entire banking sector. Monte dei Paschi said it had secured...

  • *European Central Bank approves bailout plan- sources. MILAN/ SIENA, July 29- The European Central Bank has approved a privately funded rescue of Italy's third-largest lender, Monte dei Paschi di Siena, three sources said on Friday, staving off the risk that regulators would be forced to wind up its business. Under the bailout plan to be unveiled later in the day,...

  • *Swings to Q2 loss on low oil price, Italy shutdown. MILAN, July 29- Italy's Eni has raised the target for the amount of oil and gas it expects to discover this year by 50 percent, helping to offset a surprise net loss in the second quarter as it took a hit from lower crude prices. The company also said on Friday it expected output to grow by more than 5 percent next year as...

  • *They say Russia targets softer southern/eastern EU states. MOSCOW, July 29- Vladimir Putin will step up Russia's campaign to end European Union sanctions with a visit to Slovenia on Saturday, encouraged by signs his tactic of lobbying what he views as more pliant southern and eastern European states is starting to pay off. Combined with American and Group of...

  • ROME _ Eni SpA on Friday reported a loss of $503.7 million in its second quarter. Eni SpA shares have risen slightly more than 2 percent since the beginning of the year. Keywords: Eni SpA, Earnings Report.

  • MILAN— The spotlight is on Italy's troubled banks as regulators prepare to release the results Friday of stress tests of EU lenders that will show how much money the country's financial sector, the most troubled in the region, needs to avoid rekindling a eurozone crisis. Banks in several countries could be shown to be financially weak, but Italy's are under...

  • LONDON, July 29- Euro zone yields rose with other global bond benchmarks on Friday after the Bank of Japan unveiled new monetary stimulus that fell short of market expectations. The BOJ modestly increased purchases of exchange-traded funds, but maintained its base money target at 80 trillion yen. The Bank of England meets next week and is expected to cut rates...

  • MILAN— Italian oil and gas company Eni says second-quarter losses widened to 446 million euros due to a prolonged downturn in low oil prices as well as oversupply and overcapacity in the gas and refining sectors. CEO Claudio Descalzi characterized the market as "weak but slowly improving." Production in the first half was 1.7 million barrels of oil equivalent a...

  • MILAN, July 28- Italy's third-biggest lender, Monte dei Paschi di Siena, has received a last-minute rescue proposal by Swiss bank UBS, just hours before it is due to unveil its own bailout plan to meet regulators' concerns over its stability. The bank said in a statement on Thursday night it had received two letters from UBS and former Italian Industry Minister...

  • *Wall St rebounds after disappointing Ford Motor results. NEW YORK, July 28- U.S. stocks mostly rose on Thursday in anticipation of results from tech heavyweights Alphabet and Amazon.com, while the yen eased after Reuters reported the Bank of Japan was considering expanding monetary stimulus to address signs of weak inflation. Expectations of further...

  • WASHINGTON— Institute for Supply Management releases its manufacturing index for July, 10 a.m.; Commerce Department releases construction spending for June, 10 a.m.. WASHINGTON— Commerce Department releases personal income and spending for June, 8:30 a.m.. TOKYO— Honda reports fiscal first quarter results.

  • LONDON/ MILAN, July 28- Italy's Monte dei Paschi di Siena,, which is scrambling to put together a privately backed bailout, suffered a setback on Thursday when three banks turned down a request to back a planned 5 billion euro cash call. The troubled lender is trying to pull together a banking consortium to guarantee its proposed capital increase in the next 24 hours...

  • LONDON, July 28- Morgan Stanley and Italian lenders UniCredit and Intesa SanPaolo have rebuffed a proposal by Italy's third-largest lender, Banca Monte dei Paschi di Siena, to back its proposed 5 billion euro cash call, a source familiar with the matter told Reuters. The troubled lender is trying to pull together a banking consortium to guarantee its proposed...

  • LONDON/ MILAN, July 28 (Reuters)- European shares fell on Thursday with Lloyds leading a weaker financial sector lower and disappointing earning updates from firms including oil major Royal Dutch Shell also weighing. Lloyds fell 5.8 percent after the British bank warned of a likely drop in demand caused by Britain's vote last month to quit the European Union,...

  • NEW YORK, July 28- Global stock markets fell on Thursday in the wake of disappointing U.S. and European corporate results while the dollar took its biggest tumble in almost two months after the U.S. Equity markets retreated after Royal Dutch Shell in Europe reported a more than 70 percent fall in quarterly profit that was well below analysts' estimates.

  • LONDON, July 28- Investors bought over 8 billion euros of new debt from Italy on Thursday, at some of the biggest premiums seen since early 2015, a day before Rome faces a crunch health check of its banks. It was against this backdrop that Italy sold 6.5 billion euros of five- and 10- year government bonds, along with up to 2 billion euros of floating-rate CCTeu...

  • Euro zone confidence rises after Brexit

    CNBC's Simon Hobbs reports on all the market moving events in Europe today, including Royal Dutch Shell, Brexit, Telefonica and Rolls-Royce

  • European banks have not been in the best of their health for a long time. But will they be able to face the outcome of the ECB stress tests due on Friday?

  • Surfer wipeout

    Some EU banks struggled with U.S. stress tests. Now, they have to play at home.