Italy’s Bank Shares Rise as Government Ponders $20.7 Billion in New Support

Italy’s major banks traded higher Tuesday following a move by the country’s interim government to seek permission to borrow as much as a 20 billion to support its flagging lenders. The FTSE Italia Banks Index , a measure of share performance for the country’s largest lenders, added 1.6% by 08:45 GMT, helping lift the benchmark FTSE MIB index 1.08% higher to 19,132 points.