UniCredit stock in volatile bounce

UniCredit shares and rights to buy into the Italian bank’s €7.5bn (£6.2bn) capital increase rallied after three days of falls yesterday, with traders saying volatility remains high. The bank's rights issue, which runs to 27 January, is regarded as a litmus test of investor appetite for European banks, which must find €115bn by June to shore up capital buffers to better withstand a Eurozone debt crisis.