Italian banks tapped the ECB's LTRO for €50B in December - covering 90% of their 2012...

Italian banks tapped the ECB's LTRO for €50B in December - covering 90% of their 2012 funding needs, with a second auction set to take place next month. Italy (+2.5%) is leading Europe higher today with especially gaudy gains by its banks. Unicredit +13.4%, Popolare +15%, Intesa +6.9%. (see also)