Monte Paschi backs its CEO

On this episode of Stock Movers:

-  Unilever spinoff The Magnum Ice Cream Co. opened below the reference price in its market debut on Monday, after a separation aimed at giving the world’s biggest ice cream company a platform to revive its performance as a standalone firm.

- L’Oreal is doubling its stake in Galderma Group to 20%, as the French cosmetics company increases its bet on skincare drugs. 

- Bank, Monte Paschi renewed its support for Chief Executive Officer Luigi Lovaglio amid a probe into the bank’s takeover of Mediobanca.

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