Risk continues to dominate the Milan Stock Exchange, with MPS and Mediobanca rising.

(Il Sole 24 Ore Radiocor) - Banks continue to dominate the Milan Stock Exchange, while the main risk games are now in full swing. On a day of profit-taking for European markets, the sector's main stocks continue to rally , supporting Milan's FTSE MIB.

Banca MPS and Mediobanca are still leading the rises, just days after the Piazzetta Cuccia shareholders' meeting denied the board of directors authorization to proceed with the Banca Generali deal, thus leaving the field open for Rocca Salimbeni's offer for Mediobanca. At current market prices, the offer is trading at a discount of just over 2%, but the outcome of the deal appears to many operators to be a foregone conclusion , given Mediobanca's shareholding structure and the low minimum threshold required (35% of the capital). According to Websim analysts, subscriptions on Friday were essentially stable at 19.4% of the shares subject to the offer, according to updates from Borsa Italiana. However, according to press rumors, the top management of MPS in Siena, led by CEO Luigi Lovaglio and President Nicola Maione, are already working to select the profile of the new CEO of Piazzetta Cuccia . According to rumors, the possible candidates are Mauro Micillo, head of IMI-CIB at Intesa Sanpaolo, and Marco Morelli, former CEO of MPS. For the presidency, the names reportedly include former minister Vittorio Grilli and former Citi manager Luigi De Vecchi. While waiting for the situation to be clarified by September 8th , the deadline for Siena's takeover bid, Mediobanca CEO Alberto Nagel remains in his position.

The MPS-Mediobanca game isn't the only one currently underway on the Milan Stock Exchange. The spotlight has also shifted today to Unicredit - Commerzbank . Piazza Gae Auelenti has strengthened its position as the German institution's largest shareholder, continuing the conversion of its synthetic position in the German bank into shares, bringing its stake, including voting rights, to approximately 26% . For Intermonte, "the news was expected" and is consistent "with the strategy of holding stakes in other banks as a way to manage excess capital, especially given the withdrawal of the offer for Banco BPM." Analysts, however, had not expected "the impact on the CET1 ratio resulting from the conversion, which increased due to the positive performance of Commerz's share price."