World Economy

Italy Industrial Orders Up 8.7%

Italy Industrial Orders Up 8.7%Italy Industrial Orders Up 8.7%

Industrial orders increased 8.7% in August with respect to July, while turnover rose 2%, ISTAT said on Wednesday. The national statistics agency said the orders were up by an average of 5.4% over the last three months, ANSA reported. It said turnover was up 3.4% with respect to August 2016 while orders were up 12.2% year-on-year, according to unadjusted data. Meanwhile, Monte dei Paschi di Siena shares rose sharply on their market return after a 10-month hiatus, but were well below the price Italy paid to bail out its fourth-largest bank. The world’s oldest bank’s shares last traded in Milan in December 2016 when Monte dei Paschi had to turn to Rome for help after failing to find buyers for a €5 billion ($5.88 billion) share issue needed to keep it afloat. Shares in the Tuscan bank opened on Wednesday at €4.10, which will constitute the reference price for the session, and then rose to as much as €4.73, up 15% on the day.


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