|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||12.08 - 12.08|
|52 Week Range||10.75 - 22.50|
|Beta (3Y Monthly)||1.35|
|PE Ratio (TTM)||3.73|
|Forward Dividend & Yield||0.39 (3.28%)|
|1y Target Est||8.39|
The pound is down against the dollar but remains relatively strong ahead of U.K. Prime Minister Theresa May’s Brexit plan B announcement on Monday when she is expected to come up with some changes to her ...
EUR/USD is stuck in a range between 1.13 and 1.15 because it’s “fully at the mercy of two opposing forces,” said UniCredit.
Market participants’ view of the pound is reflected in the options market, instead of the spot market, where the pound is relatively stable.
Tria told Italy’s parliament on Wednesday that a market solution is the best option for Carige, though it’s too early to say that a state intervention won’t be necessary. Matteo Salvini, the deputy premier who heads the anti-immigrant League, said earlier that the government’s goal is to bring the Genoa-based lender under state control.
The pound, mostly being driven by Brexit and a weaker dollar, is unlikely to show much reaction to the Bank of England’s monetary policy decision at 1200 GMT, said UniCredit.
British hedge fund Caius has made a payment to UniCredit to settle a dispute over complex financial instruments which Italy's biggest bank counts towards its core capital, the two companies said. Caius had questioned UniCredit's CASHES securities, arguing they should not be classed as best-quality capital. "Caius intends to take no further public, legal or regulatory action in respect of UniCredit or its securities," the firms said in a joint statement.
This is because the ‘dot-plot’--a pictorial representation of the expected path of the federal funds rate from each FOMC member--suggests policymakers are inclined to raise interest rates more than the market is pricing in. Money-market forwards price in only a 50% likelihood of just one additional rate increase in 2019, with the gap between the “old” dot-plot and forwards currently around 75bp to 100bp, says the bank.
The euro has potential to rise against the dollar if eurozone provisional purchasing managers’ surveys show “tentative signs of stabilization,” said UniCredit, but any rise will be limited before an expected ...
Pressure on sterling is unlikely to fade now that U.K. Prime Minister Theresa May has called off a vote on the Brexit withdrawal deal agreed with the European Union, UniCredit said.
The 10-year Bund yield was trading at its lowest level of the year in Europe, having fallen to 0.26%, and if it breaks this level, it could eventually slide below 0.20%, said UniCredit.
The pound faces two key events on Tuesday--the U.K. construction PMI and Mark Carney’s speech in parliament but sterling’s reaction to both is expected to be muted.
The dollar has edged lower but not breached a “level that charts identify as a key area,” said UniCredit. “This means that investors are probably still reluctant to leave the dollar given the global uncertainty.”...
The budget battle between Rome’s populist government and the European Union is taking a heavy toll, not just on sovereign debt but also the biggest of Italian institutions. UniCredit is keen to show that it can access the market in all kinds of weather, but it’s questionable whether it would have got this away last week before the conciliatory budget noises from Rome. Plus it has had to issue this new type of senior debt at a similar level of yield to its existing subordinated debt – effectively meaning there’s no reduction in cost for the bank for the supposed better quality asset.
The euro is likely to remain under pressure on concerns the eurozone economy is slowing, but EUR/USD is unlikely to fall below 1.13, as U.S. data may also come in soft this week.
MILAN (Reuters) - UniCredit declined to comment on a newspaper report on Wednesday it is studying a plan to split its domestic and foreign operations to protect shareholders from Italy-related risk.
UniCredit sees “little sign” of an easing in Italy’s dispute with the European Commission, and believes the vulnerability of the Italian government bond market is likely to remain “very high” for the time ...
The euro is likely to be stagnant “because investors will probably be reluctant to take action ahead of the EU Commission’s expected response to the Italian budget draft tomorrow,” said UniCredit.