Bucking the trend in Milan, UniCredit gained nearly 1% on the back of favorable comments from Barclays, which reaffirmed its 'overweight' recommendation with a price target raised from 32.7 to 33.5 euros, in a note on the Italian banks.

In view of their forthcoming earnings releases, the broker believes that share price reactions will depend on measures to maintain the 'credibility' of EPS, with Intesa Sanpaolo and Unicredit the best placed in this respect.

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