|Bid||2.874 x 70000|
|Ask||2.878 x 40000|
|Day's range||2.850 - 2.880|
|52-week range||1.936 - 3.008|
|PE ratio (TTM)||7.26|
|Earnings date||7 Nov 2017|
|Dividend & yield||0.20 (5.87%)|
|1y target est||3.16|
New European Central Bank rules on impaired debts could hit Italian banks hard and lead them to cut lending to companies, credit rating agency Standard & Poor's said on Monday. The ECB has faced criticism for proposals that would force euro zone's banks to set aside money to cover 100 percent of a loan turning sour within two years if unsecured, or seven years if backed by collateral. The ECB is trying to find a way to tackle European banks' bad loans, which stand at around $1 trillion (£752.8 billion).
Two major creditors of Banca Carige (CRGI.MI) have taken up a debt exchange offer which is a key plank of the troubled Italian bank's capital raising efforts, sources close to the matter said. After Rome rescued larger rival Monte dei Paschi di Siena (BMPS.MI) and liquidated two failing regional banks this year, Carige has come into focus as the last large Italian bank still in difficulty following a deep recession. The European Central Bank has given Italy's ninth-largest bank until the end of December to strengthen its capital.
The head of the European parliament has challenged the European Central Bank over how new guidelines for bank bad loans are being set, escalating a row between Italy and the ECB over the proposed measures. The ECB last week issued new proposals that will force banks from 2018 to set aside more cash against newly classified bad loans and said it may also present additional measures to tackle the sector's huge stock of bad debts. Italy - whose banks hold nearly 30 percent of the bloc's 915 billion euros (£817 billion) in bad loans - has reacted angrily to the proposals, asking the ECB to soften them following a public consultation that runs until Dec. 8.
Italy's central bank is calling on the European Central Bank to soften new requirements for banks to set aside more capital to cover newly classified bad loans, a source told Reuters. Italian banks hold nearly 30 percent of the euro zone's 915 billion euros (838.54 billion pounds) of problematic debts and investors are concerned new ECB guidelines announced on Wednesday will lead to further writedowns of soured loans. The source, who is close to the Bank of Italy, said it wanted secured loans to be exempted from the new rules, challenging one of the main planks of the ECB guidelines, which are the subject of a public consultation until Dec. 8.
Shares in Italy's Pirelli (PIRC.MI) fell on Wednesday on the tyremaker's return to the Milan stock exchange two years after it was taken over by China National Chemical Corp (ChemChina). The stock fell as much as 3.4 percent during the day, with a trader saying that while the IPO price had been cut it was still considered to be overvaluing the company. Despite being one of Italy's best-known corporate names, prospective investors had raised concerns over Pirelli's debt pile, complex governance structure and the risk that one of the existing minority shareholders could sell once a lock-up expires.
MOSCOW/BEIJING, Sept 8 (Reuters) - Chinese conglomerate CEFC (Shenzhen: 002018.SZ - news) will buy a 14.16 percent stake in Russian oil major Rosneft for $9.1 billion from a consortium of Glencore (Amsterdam: GX8.AS - news) and the Qatar Investment Authority, strengthening the energy partnership between Moscow and Beijing. CEFC China Energy has grown in recent years from a niche oil trader into a sprawling energy conglomerate and the transaction will allow China, the world's second largest energy consumer, to boost cooperation with the world's top oil producer.
European shares rose on Monday as banks rallied after Italy reached a deal to wind up two failed regional banks and Nestle climbed to a new record after an activist investor urged changes at the consumer ...
Markets across Europe cheered as Italy's €17bn (£15bn) bail-out of two Italian banks was approved - but it raised questions over rules designed to end taxpayer-funded rescues. Shares (Berlin: DI6.BE - news) in the sector rose while Italian and other Eurozone bond yields fell - meaning lower borrowing costs for governments - as the package eased some of the fears over toxic loans choking the country's banking system. The rescue for customers and investors in the failing Veneto Banca and Banca Popolare di Vicenza produced a sigh of relief for other banks wary of having to shoulder the burden of their collapse.
Shares (Berlin: DI6.BE - news) rose in Europe on Monday, with Italian banks gaining after a deal to wind up two failed lenders, while the dollar and U.S. bond yields held close to recent lows as subdued inflation raised questions over the outlook for monetary policy. The-pan-European STOXX 600 share index rose 0.8 percent, led higher by banks after the agreement under which Italy's largest retail bank, Intesa Sanpaolo (Amsterdam: IO6.AS - news) , will take on the remaining good assets of collapsed Popolare di Vicenza and Veneto Banca.
The Italian government is stepping in to liquidate two troubled Venetian banks, Veneto Banca and Banco Popolare di Vicenza, at a total cost of up to 17 billion euros.
The Italian government has set aside as much as €17 billion to help with the winding down of two collapsed regional lenders, Popolare di Vicenza and Veneto Banca. Italy's government will pay €5.2 billion to Intesa, and give it guarantees of up to €12 billion so that it will take over the remains of Popolare di Vicenza and Veneto Banca, preventing a run on the banks.
Italian government will stage two Venetian banks', Banca Popolare di Vicenza and Veneto Banca, rescue with support from the country's biggest retail bank, Intesa Sanpaolo
Intesa Sanpaolo (Amsterdam: IO6.AS - news) has launched the process to syndicate a loan it provided to Glencore (Amsterdam: GX8.AS - news) and a Qatari sovereign wealth fund for their purchase of a 19.5 percent stake in Russia's Rosneft, banking sources said on Thursday. Intesa provided a 5.2 billion euro ($5.83 billion) loan to Glencore (Frankfurt: 8GC.F - news) and the Qatar Investment Authority late last year, and the Italian bank is now trying to spread its risk. Two sources said the syndication had gone out to 15 banks, with no Russian lenders involved.
The ECB will begin tapering its generous asset-buying program in the fall with interest rate hikes to follow as soon as 2018, says Intesa CEO.
Russian President Vladimir Putin awarded state medals to executives with the Qatari investment fund, Swiss-based commodities trading firm Glencore (Amsterdam: GX8.AS - news) and Italian bank Intesa Sanpaolo (Amsterdam: IO6.AS - news) , according to a decree published on Monday. The Qatar Investment Authority and Glencore (Frankfurt: 8GC.F - news) bought a 19.5 stake in Russian oil giant Rosneft for more than 10 billion euros in December, and Intesa bank was involved in organising the deal.
MADRID/MILAN, March 7 (Reuters) - Spain's Santander and Italy's Intesa Sanpaolo said on Tuesday they had agreed to sell a joint 75 percent stake in mutual fund platform Allfunds Bank for around 1.37 billion euros ($1.45 billion) to funds GIC and Hellman & Friedman. The remaining 25 percent will be sold by Warburg Pincus and General Atlantic as part of an agreement reached with Santander in November.
European shares ticked lower on Monday, weighed down by losses among insurance stocks, while exchange operators slipped on expectations that the merger between London Stock Exchange and Deutsche Boerse ...
European shares rose in early trading on Monday, helped by some well-received earning updates and by a rally in Intesa Sanpaolo shares following the Italian bank's decision to drop plans to take over insurer ...
Italian bank Intesa Sanpaolo (Amsterdam: IO6.AS - news) is talking to 14 banks to syndicate a 5.2 billion euro loan it provided to fund the purchase of a 19.5 percent stake in Russian energy giant Rosneft by Glencore (Frankfurt: 8GC.F - news) and Qatar's sovereign wealth fund, the head of Intesa's operations in Russia told Reuters. "We aim to choose 2-3 banks to take up 2.5-3 billion euros," Antonio Fallico said on Thursday on the sidelines of a conference on Italy-Russia cooperation in Milan. Fallico, who is chairman of Banca Intesa Russia, said there was no rush in closing the syndication deal.
European shares ended a mixed week on a positive note on Friday, helped by well-received company earnings and buoyant economic data, while mining stocks were hit by weaker metal prices. The STOXX 600 closed ...
European shares rose on Friday, helped by well-received company updates and buoyant economic data, while mining stocks were hit by weaker metal prices. "I don't think the reflation trade could be long lasting," said Roberto Lottici, fund manager at Ifigest in Milan.
President Vladimir Putin told trading giant Glencore (Frankfurt: 8GC.F - news) , Qatar's sovereign wealth fund, and Italian bank Intesa their businesses in Russia would be successful after they took part in the privatisation of a stake in Rosneft. "I want to thank you for your trust, for your decision, want to express confidence that your business in Russia will be developing and developing successfully," Putin told a meeting with the heads of the companies. The meeting was also attended by Igor Sechin, chief executive of Rosneft, in which the state sold a 19.5 percent stake last month to the consortium of Glencore and the Qatar Investment Authority.
President Vladimir Putin told trading giant Glencore, Qatar's sovereign wealth fund, and Italian bank Intesa that their business in Russia would be successful after they took part in the privatisation ...
Russian President Vladimir Putin said on Wednesday he hoped cooperation between the Qatar Investment Authority and the Russian Direct Investment Fund would expand. Putin was speaking at a meeting with ...