Milan Stocks Rise as Banco BPM and Unicredit Jump
Listen to the story
European stock markets were weak on this day. But Milan's stock market went up.
Two Italian banks helped Milan rise. They are called Banco BPM and Unicredit. Their shares went up a lot.
A French bank called Crédit Agricole made an announcement. It wants to join its Italian business with Banco BPM.
This plan is called a merger. It means two companies become one company.
Crédit Agricole said the merger will be friendly. This means both companies agree to it.
The company will give one billion euros to its shareholders. Shareholders are people who own part of a company.
Crédit Agricole will not make a takeover bid. A takeover bid is when a company tries to buy another company's shares.
This news made investors happy. Banco BPM shares went up fast.
Unicredit shares also rose. Unicredit is another big Italian bank.
Many people are watching this story. It could change Italian banking.
Vocabulary15 words
- stock market
- a place where people buy and sell parts of companies
- shares
- small parts of a company that people can buy
- merger
- when two companies join to become one
- friendly
- done with agreement, not fighting
- shareholders
- people who own shares in a company
- takeover bid
- an offer to buy a whole company
- investors
- people who put money into companies
- banking
- the business of banks
- Crédit Agricole
- a big French bank
- Banco BPM
- a big Italian bank
- Unicredit
- another big Italian bank
- announcement
- when someone tells people important news
- plan
- an idea about what to do
- euros
- the money used in Italy and France
- rise
- to go up
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Quiz
Answer key
1. It went up 2. Crédit Agricole 3. False
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
European stock markets were _____ on this day. But Milan's stock market went up.
Two Italian banks helped Milan rise. They are called Banco BPM and _____. Their shares went up a lot.
A French bank called Crédit Agricole made an _____. It wants to join its Italian business with Banco BPM.
This plan is called a _____. It means two companies become one company.
Crédit Agricole said the merger will be _____. This means both companies agree to it.
The company will give one _____ euros to its shareholders.
Crédit Agricole will not make a takeover _____.
This news made investors _____. Banco BPM shares went up fast.
Unicredit shares also _____. Unicredit is another big Italian bank.
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