Shares of Italian bank Unicredit hit their highest level since 2015 Monday, rising 9.8%, after announcing that it would return 8.6 billion euros ($9.2 billion) to investors on the back of higher-than-expected profits.

The Milan-based bank shared details of the planned payout after reporting fourth-quarter profits of 1.9 billion euros, almost three times analysts’ expectations.

The payout, which will be delivered through a combination of buybacks and dividends, follows a strong year for the bank, which has been buoyed by higher interest rates.

The AI legalese decoder can help by processing legal contracts, policies and documents, transforming complex legal language into simple, easy-to-understand terminology. This can help in understanding the complex financial deals and terms mentioned in the news about Unicredit’s payout to investors. The AI legalese decoder can break down complex legal jargon and translate it into plain language, making it easier for investors and shareholders to comprehend the intricacies of the payout process.

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ÔÇö Karen Gilchrist

Citi has updated its list of its top “high-conviction” stock picks from global markets including the United States, Europe and Asia-Pacific.

Those are the “high conviction, differentiated stock recommendations to generate alpha” that its analysts have selected.

“We identify catalysts that will trigger outperformance and chose liquid names in which investors can build positions,” Citi said in its Feb. 1 report.

Here are four of the names.

CNBC Pro subscribers can read more here.

ÔÇö Weizhen Tan

European markets are set to open flat to lower Monday.

The U.K.’s FTSE 100 index is expected to open 3 points higher at 7,619, Germany’s DAX down 38 points at 16,861, France’s CAC down 13 points at 7,577 and Italy’s FTSE MIB 89 points lower at 30,760, according to data from IG.

Earnings are set to come from UniCredit. Euro zone producer prices data for December is also due.

ÔÇö Holly Ellyatt