|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.0000 - 0.0000|
|52 Week Range|
|Beta (3Y Monthly)||1.49|
|PE Ratio (TTM)||3.85|
|Forward Dividend & Yield||0.39 (3.08%)|
|1y Target Est||8.39|
Sterling was flat against the euro and slightly higher versus the dollar, and the currency will likely “remain under water as long as uncertainty persists,” said UniCredit.
(Reuters) - Italian lender UniCredit on Thursday said that its Austrian business's Chairman Erich Hampel has resigned from the Board and will also step down from all other functions within the group.
The 10-year Italian-German government bond yield spread is expected to stay around current levels as budget uncertainties continue, said UniCredit.
BNP Paribas considers its own year-end target of 0.75% for 10-year German Bund yields as “undeniably ambitious” but says the target “may still be within reach.”
Stronger Dollar Pushes Pound Lower, But Brexit Likely to Stay Main Driver 0859 GMT - Sterling was being pushed lower by a stronger dollar on Monday. The pound hit an 11-day low of $1.2841 and EUR/GBP rose to a one-week high of 0.
The Fed interest-rate wasn’t much of an event for the markets, but the dollar did strengthen on relief that a December rate rise still looks on track.
Italy's top bank UniCredit missed third-quarter profit forecasts after writing down its stake in a Turkish bank by almost $1 billion and covering for an expected settlement of an Iran sanctions case with the United States. The bank stuck to its 2019 profit goal saying it would step up cost cuts to offset lower revenues but trimmed its core capital target after a hit in the quarter from a falling Turkish lira and higher risk premiums on Italian bonds. Turkey's economic woes and its currency slump have hit the country's banking sector, compounding trouble UniCredit faces at home, where spending plans by Rome's new populist government have sent the state's debt costs soaring.
The lender surprised investors with an 850 million-euro ($972 million) charge to revalue Istanbul-based Yapi Kredi Bankasi AS and said it’s increasing funds to cover a potential settlement related to U.S. sanctions over Iran. The charges are a setback to Mustier in the final stages of his turnaround of the Italian lender, focused on cleaning up soured loans, cutting jobs and strengthening capital. The Frenchman has pledged to build a leading pan-European lender and signaled he’ll consider deals to boost growth once he’s met key profit targets.
Even as the greenback remains weak against the Singapore dollar, Saxo Capital’s Mahesh Sethuraman sees the possibility of “post-midterm noise” and uncertainties around U.S.-China trade spat taking the ...
The 10-year Italian BTP-German Bund spread continues to hover around 300 basis points, however, this may soon change as the deadline for Rome to submit a revised budget plan approaches, said UniCredit’s ...
The Stoxx 600 Index rose 0.4 percent, led by the travel & leisure sector. UniCredit SpA dropped 2 percent after Italy’s largest lender cut its revenue and capital forecasts, while Siemens AG rose 0.5 percent as Europe’s biggest engineering firm raised its dividend and announced plans to buy back 3 billion euros of shares. About 50 members of the Stoxx Europe 600 Index are releasing quarterly numbers Thursday.
SpA (UCG.MI) said Thursday that a net loss from investments hit third-quarter net profit, which fell sharply from a year earlier when the comparable result was boosted by a capital gain on the sale of its asset-management unit Pioneer Investments. Net profit for the period was 29 million euros ($33.2 million), down from EUR2.82 billion a year earlier, when the bank reported a EUR2.1 billion capital gain on the sale of Pioneer. On an adjusted basis, which excludes one-offs like the unit sale or the Yapi impairment, net profit for the period rose to EUR875 million, compared with EUR835 million a year ago, the bank said.
The Zacks Analyst Blog Highlights: Barclays, Lloyds Banking Group, Deutsche Bank, UniCredit S.p.A. and Intesa Sanpaolo
German Bund yields were unchanged in early European trade at 0.43% and are unlikely to move much before results of U.S. midterm elections are known.
EUR/USD was slightly lower at the start of European trade despite Friday’s strong U.S. payroll data with midterm elections and the FOMC likely to ensure a volatile week for the dollar.
The dollar was mixed early in the European session and UniCredit expects little movement in the greenback even with impending nonfarm payrolls.
The flash estimate for eurozone October inflation should prevent the euro from falling towards 1.13 against the dollar or below, said UniCredit.
The country’s bonds and stocks jumped Monday after S&P Global Ratings lowered its outlook on Italy to negative Friday and kept the sovereign rating unchanged at two notches above junk. “The bargaining process needs to be handled pretty carefully because whether the ECB steps in to help the Italians or not is the key question,” Aninda Mitra, senior sovereign analyst at BNY Mellon Investment Management, which oversees $1.8 trillion in assets globally, said in Singapore.
The euro traded flat against the U.S. dollar at 1.1405 after credit rating agency S&P left Italy’s debt rating unchanged on Friday, and UniCredit said it is “fairly valued” around this level.
The euro was flat and an S&P rating decision on Italian debt is unlikely greatly to affect the common currency, said UniCredit.
The euro couldn’t hold onto the gains after Moody’s rating decision and is back below 1.15 against the dollar, with UniCredit warning that “seesawing” may continue in the absence of clear trends.
The meltdown of the Turkish lira, the standoff over Italy’s budget, a massive money laundering scandal in Denmark and geopolitical tension chilling trade are only a few of the events that hammered banks. It meant lackluster securities trading for the biggest investment banks, adding to another challenging quarter. Deutsche Bank AG, Germany’s largest lender, will kick off the earnings season on Wednesday, along with Barclays Plc, giving a first glimpse how Europe’s investment banks stacked up against their U.S. peers.
The foundation, which controls fiber maker Lenzing AG, aluminum maker Amag Austria Metall AG and rubber maker Semperit AG and is looking for a fourth asset, is targeted by Austrian investor Michael Tojner in a hostile attempt, B&C Chairman Wolfgang Hofer said in a statement on Saturday. UniCredit SpA is also involved in the attempt, Hofer said. UniCredit SpA and its Austrian unit Bank Austria declined to comment.