Shares in Monte dei Paschi di Siena (MPS) fell sharply on Friday, dropping 4.57% to €8.493, following the approval of its 2026-2030 industrial plan after completing the public offer and exchange related to Mediobanca. Mediobanca shares also experienced a decline, falling 3.68% to €18.975.
The movements come as MPS prepares to fully integrate Mediobanca through a merger by incorporation, a plan announced earlier this month. The bank intends to transfer its corporate & investment banking and private banking activities for high-conclude clients into a wholly-owned, unlisted company that will retain the Mediobanca name. This new entity will also include the bank’s equity stake in Assicurazioni Generali SpA, according to a press release from MPS.
MPS is targeting a combined profit of €3.7 billion ($4.4 billion) for the merged group by 2030, as stated by the bank on Friday. The integration is expected to be completed by the end of the year. The strategic move aims to maximize value creation and achieve industrial synergies, enhancing Mediobanca’s expertise within a specialized operating model.
Elsewhere in the Italian market, Prysmian saw a strong performance, rising 3% to €103.15 after several investment firms upgraded their price targets following the release of the company’s 2025 financial results. ENI also posted gains, increasing by 2.18% to €19.78.
doValue experienced a significant surge, climbing 8.84% to €2.486 after reporting its 2025 financial results and providing guidance for the current year. Stellantis, however, reversed some of its previous gains, falling 0.35% to €6.754.
Broader market movements were minimal, with the FTSE Mib down 0.06% at 47,396 points, while the FTSE Italia All Share rose 0.08%. The FTSE Italia Mid Cap and FTSE Italia Star indices saw slight declines of 0.25% and 0.18% respectively. Bitcoin slipped to $66,000 and the spread between Italian and German 10-year bonds widened to over 60 basis points, with the Italian bond yield remaining above 3.3%. The euro traded around $1.18, while gold prices rose above $2,050 per ounce and silver fell below $90.50.
