Banco Popolare SC, Italy’s fourth- biggest bank, was suspended from trade in Milan after slumping the most in more than five years on plans to sell as much as 1.5 billion euros ($2.1 billion) of shares to bolster capital.
Banco Popolare SC was rated “buy” at Societe Generale SA, which initiated coverage of Italy’s fourth-biggest bank and set a price estimate of 5.9 euros.
Banco Popolare SC, Italy’s fourth- biggest bank, plans to sell real-estate assets and cut more than 1,000 jobs to boost capital and profit as part of its five-year business plan.
Shares of the following companies may have unusual moves in European trading tomorrow. Stock symbols are in parentheses.
Banco Popolare SC, Italy’s fifth- biggest bank, said second-quarter profit fell 63 percent because tax gains from a year-earlier weren’t repeated.
The following companies may be active in Italian trading. Stock symbols are in parentheses and share prices are from the previous close.