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4-Traders Homepage  >  Equities  >  Italian Stock Exchange  >  Intesa Sanpaolo SpA    ISP   IT0000072618

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Milan's FTSE-Mib Down 5% Near End Of Tuesday Trading Session

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04/10/2012 | 05:40pm CET

Milan's FTSE-Mib clue-chip index lost more than 5% in late-session trading Tuesday as investors sold financial stocks and debt-heavy companies amid renewed fear of an Italian debt squeeze.

At 1517 GMT, Intesa Sanpaolo SpA (>> Intesa Sanpaolo SpA), Italy's largest bank, led decliners, shedding 8.1%, while its largest rival UniCredit SpA (>> UniCredit SpA) lost 7.8%.

Traders cited the widening spread, or interest-rate gap, between Italian and German sovereign bonds as the reason for the selloff. The spread rose above 400 basis points, or four percentage points.

Other listed banks such as Banco Popolare (>> Banco Popolare Societa Cooperativa) and UBI Banca SCpA (>> UBI Banca Scpa) also posted sharp drops.

Fiat SpA (>> Fiat SpA) declined 6.2%, followed by other debt-heavy industrial stocks including Fiat Industrial SpA (>> Fiat Industrial SpA) and Mediaset SpA (>> Mediaset SpA).

The FTSE-MIB index is down 4.85 at 14,4887 having inched up from a lower level shortly before.

-By Christopher Emsden, Dow Jones Newswires; +39 06 6976 6921; chris.emsdenloney@dowjones.com

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Financials (€)
Sales 2016 16 840 M
EBIT 2016 7 800 M
Net income 2016 3 345 M
Debt 2016 -
Yield 2016 7,53%
P/E ratio 2016 12,32
P/E ratio 2017 11,06
Capi. / Sales 2016 2,38x
Capi. / Sales 2017 2,34x
Capitalization 40 050 M
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 2,57 €
Spread / Average Target 7,4%
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NameTitle
Carlo Messina MD, Chief Executive Officer & Director
Gian Maria Gros-Pietro Chairman
Eliano Omar Lodesani Chief Operating Officer & Head-Human Resources
Stefano del Punta Chief Financial Officer
Giovanni Costa Director & Deputy Chairman-Management Board
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