Banco BPM shares jump on M&A rumours involving UniCredit, Credit Agricole

Shares in Italy's Banco BPM gained 3.5% on Friday, topping the blue-chip index, amid media speculation that UniCredit and Credit Agricole were assessing a joint bid for the lender. A Milan-based trader attributed the move to an article in Il Sole 24 Ore alleging that the two banks were seeking dialogue over Banco BPM. Credit Agricole holds a near-30% stake in Banco BPM.