|Bid||1.8822 x 0|
|Ask||1.8960 x 0|
|Day's Range||1.8830 - 1.9860|
|52 Week Range||1.5200 - 3.1080|
|Beta (3Y Monthly)||2.12|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 8, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2.60|
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.
Rating Action: Moody's assigns A1 to RMBS Notes issued by BPL Mortgages S.r.l.- Series 5. Global Credit Research- 14 Mar 2019. Madrid, March 14, 2019-- Moody's Investors Service has assigned the following ...
Announcement: Moody's announces completion of a periodic review of ratings of Banco BPM S.p.A. Paris, March 13, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Banco BPM 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.
Italian bad loan investor Fire is looking to add 1 billion euros ($1.1 billion) in assets under management this year as it works towards an eventual stock market listing, its chief executive said. Italian banks' efforts to cut a bad loan pile that peaked at 360 billion euros after a recession turned Italy into Europe's biggest market for soured bank debt, with sales totalling some 150 billion euros in the past two years. "(In 2019) we want to approach the 10 billion euro psychological threshold (of assets under management) which separates big players from small- and medium-sized ones," CEO Claudio Manetti told Reuters.
European shares bounced back on Monday as new-found optimism among investors about the new round of trade talks between Beijing and Washington lifted bourses from one-week lows. Analysts cautioned that sentiment about the trade talks was volatile and that a favourable outcome was by no means a done deal. "As U.S.–Sino trade talks begin in Beijing we are once again seeing the markets adopt an all too familiar optimistic stance", wrote market City Index analyst Fiona Cincotta.
European shares fell sharply on Thursday ending a seven-session run of gains as a batch of worrying trading updates in a wide range of sectors combined with the European Union cutting its growth forecasts to weigh on markets. "Eurozone stocks are suffering greatly as investors are fearful the region could be in for an economic downturn", wrote David Madden from CMC Markets, adding that should the UK leave the EU without a deal, the deteriorating economic conditions could not come at a worse time. London's FTSE was down 1.1 percent after the Bank of England said Britain faces its weakest economic growth in a decade this year as uncertainty over Brexit mounts and the global economy slows.
European shares eased from 12-week highs on Thursday as weak earnings from Publicis, GEA and TUI offset gains in banks following better-than-expected results from Italy's Unicredit. Europe's STOXX 600 was down 0.2 percent at 0935 GMT, with Germany's DAX 0.5 percent lower after disappointing December industrial output numbers for Europe's largest economy reinforced worries about the cooling global outlook. Bank stocks were some of the few gainers in early deals as Italy's biggest bank UniCredit reported consensus-beating fourth-quarter results, bringing some much-needed cheer to the battered euro-zone sector.
New Italian bank Illimity is interested in troubled construction group Condotte, Chief Executive Corrado Passera said on Tuesday. Condotte, Italy's third-largest construction group, was placed under extraordinary administration last year as it risked buckling under more than 800 million euros in debt. The European Commission gave a green light last month to a 190 million euro (165 million pounds) state guarantee to meet urgent liquidity needs at the building group.
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 ...
Investing.com - Italian bank stocks were among the worst performers in European midday trade on Tuesday, as investors dumped them in reaction to a report suggesting they face new demands from regulators to bolster their provisions against bad loans.
Shares in Monte dei Paschi di Siena (BMPS.MI) were suspended on Monday after sliding by 8.5 percent on news of a stark European Central Bank warning for the Italian bank. The ECB had flagged funding and profitability risks as well as a weakened capital position in a letter to Monte dei Paschi, the bailed-out lender revealed late on Friday. Monte dei Paschi said the ECB had told it to put aside more money to cover impaired loans by 2026, in line with rules requiring euro zone banks to perform full writedowns within seven years for new loans that turn sour after April 2018.
Banco BPM (BAMI.MI) rules out any tie-ups for the moment given uncertain market conditions, CEO Giuseppe Castagna said on Saturday when asked about the bank's interest in rivals Carige (CRGI.MI), UBI Banca (UBI.MI) or Monte dei Paschi (BMPS.MI). Banco BPM, which is Italy's third largest bank, has been mentioned in the press in recent days as a potential buyer of troubled Carige, which was put under temporary administration by the European Central Bank this month after it failed to raise capital from investors. In the past a three-way merger involving Banco BPM, which was created in 2017 from the merger of Popolare di Milano and Banco Popolare, UBI and Monte dei Paschi has been mooted as a possible solution to help Tuscany-based Monte dei Paschi which was bailed out by the state in 2016.
Fearing his country's pay-as-you-go pension scheme is unsustainable, a 40-year old French engineer - let's call him Jean Dupont - makes a New Year resolution. Hoping the introduction of the euro the next day will mark a new era of prosperity for the European economy, Dupont decides to invest in the bloc's banking sector every single trading day for the next two decades.
Moody's Investors Service ("Moody's") announced today that the termination of the covered bond swap entered with Credit Suisse in connection with the Registered Covered Bond issued on January 2011 would not, in and of itself and as of this time, result in a reduction or withdrawal of the current A1 ratings of the covered bonds issued by Banco BPM (the Issuer) under the Programme. This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.
Investing.com - Italian bank stocks were among the strongest performers in European midday trade on Wednesday, as investors piled in to the sector after Rome and Brussels announced a new deal over Italy's contested 2019 budget.
European shares rose on Tuesday as optimism over the China-U.S. trade dispute helped them recover from the two-year lows hit in the previous session on a burst of political risk and worries over slowing global growth. The pan-European STOXX 600 (.STOXX) benchmark index rose 1.5 percent, while euro zone stocks (.STOXXE) added 1.3 percent and Germany's DAX (.GDAXI), the most sensitive to China due to its big exporters, rose 1.5 percent. Further cementing expectations that trade talks had not been interrupted was a report that China was preparing to cut its tariffs on U.S. car imports.