MILAN (Reuters) - Shares in Monte dei Paschi di Siena (MI:BMPS) rose Tuesday, helped by reports it is selling another batch of bad loans and that the Rome government is making progress on the possible creation of a state-guaranteed vehicle to help lenders offload soured debts.
A source with knowledge of the matter said on Monday Monte Paschi is looking to sell a portfolio of non-performing corporate loans worth 1.8 billion euros ($2 billion) by early next year to free up capital.
By 0745 GMT Monte Paschi shares were up 3.5 percent at 1.878 euros, outperforming a 2.1 percent gain in the European banks index (SX7P).