European stock markets were mixed on Thursday as benchmarks in London rose, while those in Germany and Spain fell.
The headline event from the session was again the looming collapse of Monte Paschi (BMDPY) , the Italian lender, after a debtvswap it carried out left it €3 billion ($3.1 billion) short of the capital it needs to raise in order to recapitalize itself following a planned loan sale.
With its share sale having closed on Thursday afternoon, market expectations are that Monte Paschi is now nationalized, marking the first major bank failure since the financial crisis.
Miners were also a weight on European stocks, with the majority of them closing lower across the board after iron ore shed nearly 3% and lead prices fell by more than 1.5%.
The FTSE 100 was 0.2% higher at 7,063 by the close and the FTSE 250 was up 0.7% to 17,891 in London.
In Paris the CAC 40 was flat at 4,834 and in Frankfurt the DAX fell by 0.2% to close at 11,456. In Spain the IBEX fell by 0.4% to 9,333.
On the FTSE 250, automotive parts firm Inchcape (IHCPF) rose more than 7% in London after announcing the acquisition of a distribution business in South America -- a deal that could yield high-single digit earnings growth in year one.
In Germany Deutsche Boerse (DBOEY) shares fell by 1.4%, the worst performer on the DAX, on a down day for Germany companies and after it exercised a call option to increase its stake in TradeGate, a fellow exchange operator.
In France, Nokia (NOK) - Get Report was the worst performer on the CAC 40 index after the Finnish firm initiated a legal battle with Apple (AAPL) - Get Report over patent rights, which analysts have said could delay royalty payments due to it.