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MARKETS LIVE BLOG:

STOCKS TRADE HIGHER; DISNEY SINKS AFTER EARNINGS

Fed's Kashkari: Rates will stay high for 'extended period', can't rule out a hike

BlackRock cut stake in Monte Paschi to 3.23 percent

Reuters
The BlackRock logo is seen outside of its offices in New York January 18, 2012.REUTERS/Shannon Stapleton

MILAN (Reuters) - U.S. investment fund BlackRock (NYSE:BLK - News) has lowered its stake in Italian lender Banca Monte dei Paschi di Siena (Milan:BMPS.MI - News) to 3.23 pct from 5.75 percent, according to a filing published by market regulator Consob on Wednesday.

The sale took place on April 15, Consob said.

Shares in Monte Paschi lost 10 percent on April 15 after the bank said it was evaluating its capital needs, following a report it may increase the size of a planned rights issue to 5 billion from 3 billion euros.

(Reporting by Francesca Landini, editing by Valentina Za)