|Bid||2.4760 x 0|
|Ask||2.4780 x 0|
|Day's Range||2.4580 - 2.6090|
|52 Week Range||2.0900 - 3.8760|
|Beta (3Y Monthly)||1.71|
|PE Ratio (TTM)||7.85|
|Earnings Date||Aug 2, 2019|
|Forward Dividend & Yield||0.12 (4.63%)|
|1y Target Est||3.33|
The rescue of Carige is in disarray after U.S. giant BlackRock last month pulled out of a plan to provide the bulk of a proposed 720 million euro ($807 million) capital injection for the Genoa-based bank. The commissioners appointed in January by the European Central Bank are racing against the clock to find an alternative buyer, and stave off the risk of liquidation. "We expect news from the commissioners in the coming days", UBI CEO Victor Massiah said on the sidelines of an event in Rome, adding that "a market solution would be preferable".
Funds that built big short positions in Italy's leading banks from early 2018 have lowered the size of their bets in the last few months as political worries eased, regulatory data shows. Despite a looming budget showdown between Rome and Brussels, a Reuters analysis of data from Italian market regulator Consob shows that as of May 21 there were no net short positions above 0.5% in shares of Italy's two largest banks. Consob discloses changes in short positions above 0.5% and in 2018 funds had short positions in Intesa Sanpaolo and UniCredit which were above this level.
Italian lender Bper Banca is not looking to lead a rescue of ailing rival Carige after U.S. asset manager BlackRock dropped a potential bid for the Genoa-based bank, CEO Alessandro Vandelli said. "I'm not studying the dossier," Vandelli said on the sidelines of a banking industry meeting on Wednesday, when asked if Bper could replace BlackRock as the leading investor in Carige. The U.S. fund has dropped plans to provide the bulk of a proposed 720 million euro (625 million pounds) capital injection into Carige.
VERONA, Italy (Reuters) - Italy's third biggest lender, Banco BPM, could be interested in tie-ups with banks close to its home turf in the north of the country, its CEO said on Saturday in comments that ...
Around 30 parallel deals were signed on the sidelines of the visit to Rome by Chinese President Xi Jinping, including 10 with Italian companies and others with ministries and public bodies. Italian Deputy Prime Minister Luigi Di Maio said the deals were worth an initial 2.5 billion euros ($2.8 billion) but had a potential value of 20 billion. Italy's state lender Cassa Depositi e Prestiti (CDP) signed an agreement with Bank of China to let it sell "Panda" bonds - debt sold by foreign entities to investors in mainland China.
European stock markets deepened losses on Friday, closing near session lows, as fears of a slowdown in global growth after weak manufacturing data from across Europe were exacerbated by dismal data from the United States. After downbeat manufacturing activity from Germany reignited fears of a recession in the region's biggest economy, the inversion of the U.S. yield curve after similar U.S. data stoked fears that the world's largest economy may also be slipping into recession. The classic gauge of fear – known as implied volatility, which tracks demand for options in European stocks – hit more than 9-week highs and posted its biggest weekly rise in a year, the first concrete sign of activity in a while.
Announcement: Moody's announces completion of a periodic review of ratings of Unione di Banche Italiane S.p.A. Paris, March 13, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Unione di Banche Italiane S.p.A. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
MILAN/LONDON (Reuters) - European shares fell from five-month highs on Thursday after the European Central Bank changed its interest rate guidance and announced a new round of cheap bank loans sooner than expected, though with tougher terms than previous rounds. Euro zone banks sank 3.3 percent, their worst day since Dec. 6, as the ECB's announcement of a new Targeted Long-Term Refinancing Operation (TLTRO) failed to soothe investors' concerns about the pushing out of rate hikes. "Bank stocks are the more volatile expression of market fears about the growth outlook, and pushing rate hikes into next year makes it tough to see bank earnings growing," Kilmurray, who has an overweight position in euro zone banks, added.
Investing.com -- European stocks hit a two-month high Tuesday on hopes that the euro area economy may be bottoming out after a sharp slowdown at the end of last year.
Italian banking service provider Nexi will hire 13 banks to run what could be Italy's biggest initial public offering in three years, sources with knowledge of the plan said. Bank of America Merrill Lynch, Intesa Sanpaolo's Banca IMI , Mediobanca, Credit Suisse and Goldman Sachs are set to be the global coordinators for Nexi's Milan listing, three sources said.
Rating Action: Moody's downgrades Class A Notes of UBI SPV Group 2016 S.r.l. London, 28 January 2019 -- Moody's Investors Service ("Moody's") has downgraded the rating of Class A Notes in UBI SPV Group 2016 S.r.l.. The downgrade reflects Moody's view regarding the amendments to the documentation that have been announced on 25 January 2019 and which will modify the length of the revolving period, the transfer limits, and the eligible account bank trigger.
Italy is considering merging troubled banks Monte dei Paschi (BMPS.MI) and Banca Carige (CRGI.MI) with healthier rivals such as UBI Banca (UBI.MI) as it scrambles to avert a new banking crisis, sources familiar with the matter said. Monte dei Paschi, rescued by the state in 2017, and Carige, recently put into special administration by the European Central Bank (ECB), are struggling with bad debts and the prospect of asset writedowns that would eat into their capital. According to one of the sources, the options being considered even include the possibility of a three-way merger that would bring together Monte dei Paschi, Carige and UBI.
The European Central Bank should avoid causing "financial distress" to banks by demanding they provide for their unpaid loans too quickly, senior European Union lawmaker Roberto Gualtieri said on Wednesday. Shares in Italian banks fell this week when it was reported by Italian newspaper Il Sole 24 Ore that the ECB’s Single Supervisory Mechanism (SSM) had given them, on average, until 2026 to set aside enough cash to cover for the large pile of soured credit inherited from the last recession.
Many Italian banks are struggling to borrow on the private markets and want European Central Bank (ECB) help as they seek more than 55 billion euros (£49.14 billion) in funding this year. Italy's banks are still dealing with the bad debt left by the last downturn and another would risk new loans turning sour. Political uncertainty has meant a spike in borrowing costs for Italian banks since an anti-austerity government took power last year, with only heavyweights UniCredit (CRDI.MI) and Intesa Sanpaolo (ISP.MI) able to raise unsecured debt.
By Helen Reid LONDON (Reuters) - European shares bounced on Tuesday after China signalled more stimulus measures to soften the blow from a tariff war with the United States, triggering relief in trade-sensitive ...