Does an Italian study visa cover internships in London?

I'll be starting a full-time MSc. Finance in Italy this September (US citizen). Currently in the process of filling out my Visa application form, and am considering what dates to put down for my date of arrival/ departure, as well as the maximum length of stay (up to 365 days). Does anyone know if the study Visa would make me eligible for internships in London? Would I need anything else?

If my study Visa will cover me for summer internships in London, then is it best to just put my program start date as the date of arrival, and then the date of departure one full year later instead of putting the actual last day of the 2nd semester? The program is two years, but the study Visa covers me up to a max of 365 days.

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