|Bid||10.13 x 0|
|Ask||10.14 x 0|
|Day's Range||10.10 - 10.30|
|52 Week Range||9.54 - 15.37|
|Beta (3Y Monthly)||2.04|
|PE Ratio (TTM)||5.93|
|Earnings Date||Aug 7, 2019|
|Forward Dividend & Yield||0.27 (2.65%)|
|1y Target Est||16.38|
The global tally of bonds trading with sub-zero yields has lurched towards the $12tn mark, doubling since a recent trough last autumn, Barclays data show. The increase underscores how expectations for monetary policy have shifted, amid mounting concern about global trade and the world economy. “Market [interest] rates have almost fallen off a cliff in recent months”, said Andreas Steno Larsen, fixed-income strategist at Nordea Markets.
In a report published Wednesday, the European Commission said Italy hasn’t made sufficient progress in reducing its mountain of debt in line with the bloc’s fiscal rules, and that a disciplinary process is “warranted.” The step marks an escalation of the country’s budget tussle that roiled markets at the end of 2018 and is a warning for Italy’s populist leaders, particularly Deputy Premier Matteo Salvini who has vowed to change EU budget rules. “Italy’s public debt remains a major source of vulnerability for the economy,” the commission said in its report.
Eurozone inflation pulled back further in May from the European Central Bank’s target, according to data released just days before a key policy decision. Core inflation, which strips out the more volatile energy, food, alcohol and tobacco categories, dropped to 0.8 per cent in May, down from 1.3 per cent the previous month and below consensus expectations.
About 10 banks took part in a switching run where lenders closed existing swaps positions in the U.K. and opened equivalent ones in Germany, according to people familiar with the matter, who asked not to be named because the trades are private. Some of the 10, including JPMorgan Chase & Co. and Commerzbank AG, acted as market makers, treating the exercise as an opportunity to generate revenue by trading with the banks. Continental European banks would be unable to keep their swaps -- a widely used type of derivative -- in London from April next year if the U.K. leaves the European Union without a deal.
Slovenian banks made a combined net profit of 130.2 million euros ($145.63 million) in the first quarter of 2019, up from 128.8 million a year ago, the Bank of Slovenia said in a monthly report on Tuesday. Slovenia narrowly avoided an international bailout of its banks in 2013. The government fully or partially owns some of the biggest banks and controls about 30 percent of the banking sector.
UniCredit is mulling a structured transaction in one or more tranches to be completed by the end of the year, the people said. A spokesman for UniCredit declined to comment. Chief Executive Officer Jean Pierre Mustier is accelerating the bank’s cleanup as UniCredit nears the end of a three-year rebuilding plan.
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.
Commerzbank, in particular, might be a tempting target for rivals across the continent who want to build their presence in Germany. If there were a suitable offer, the German government – which owns 15.5 percent of Commerzbank – should be prepared to let the lender go. Berlin has been a strong proponent of the “banking union,” which is aimed at creating a unified credit market across the euro zone.
Italy's Deputy Prime Minister and League leader Matteo Salvini said he would hail a takeover bid by Italy's UniCredit for German rival Commerzbank. "As an Italian, I would be really proud that an ...
MILAN (Reuters) - Italy's Deputy Prime Minister and League leader Matteo Salvini said he would hail a takeover bid by Italy's UniCredit for German rival Commerzbank. "As an Italian, I would be really ...
Any delay to tariffs beyond the May 18 deadline will probably be presented as a stay of execution, not an acquittal. If the threat is kept on the table, it will continue to have a political and economic impact.
ROME/MILAN, May 15 (Reuters) - Italy's banks could come to the rescue of Carige to safeguard financial stability after U.S. asset manager BlackRock dropped a planned bid for the struggling regional lender, the chairman of UniCredit said on Wednesday. The rescue of Carige is in disarray after BlackRock last week pulled out of a plan to provide the bulk of a proposed 720 million euro ($807.2 million) capital injection for the Genoa-based bank. Unless a deposit protection fund made up of Italian banks can be persuaded to finance Carige's rescue, Rome risks having to pay for another costly bailout two years after the rescue of Monte dei Paschi di Siena and two banks in the Veneto region in the north east of the country.