Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Italian Stock Exchange  >  UniCredit SpA    UCG   IT0004781412

Real-time Quote. Real-time Tradegate - 08/24 10:03:31 pm
2.218 EUR   +6.12%
08:19p UNICREDIT : jumps 8% on sale of Polish unit reports
05:11pDJUNICREDIT : PZU Plans to Buy Banks in Poland, Expand Insurance Busin..
09:15aDJUNICREDIT : PZU Plans to Buy Banks in Poland, Expand Insurance Busin..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Italy's Banks Take Hit on Inconclusive Election Results

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/26/2013 | 10:34am CEST

BY Giovanni Legorano

MILAN--Italian banks are taking a huge hit at the outset of Tuesday's trading session in Milan following election results that produced a hung parliament with no clear political majority in the upper house.

Large banks such as UniCredit SpA (>> UniCredit SpA), Intesa Sanpaolo SpA (>> Intesa Sanpaolo SpA) and Banca Monte dei Paschi di siena SpA (>> Banca Monte dei Paschi di Siena SpA) all failed to open at the beginning of the trading session.

When they did open they were trading down at levels ranging from -7% and -10%.

"Political instability is taking a toll on government bonds, which Italian financial companies are stuffed with, so they are the ones which suffer most," said Vincenzo Longo, a strategist at IG Markets in Milan.

The yield on 10-year Italian bonds surged 46 basis points to 4.82% on Tuesday, according to data from Tradeweb, after the inconclusive set of election results triggered fears of renewed political instability for the country.

With the counting of votes ending in the early hours of Tuesday, the left-wing coalition led by the Democratic Party's Pier Luigi Bersani gained a razor-thin victory in the lower house of parliament over the center-right coalition headed by Silvio Berlusconi. By leading the vote count in the lower house, the Democratic Party automatically gets the majority of seats and, therefore, is likely to receive the mandate to form a government.

However, in the Senate, although the center-left is the biggest single party after the vote, it is well short of an overall majority. Italy's parliament is made up of the Chamber of Deputies and Senate, both with equal powers.

Assicurazioni Generali SpA (>> Assicurazioni Generali SpA), Italy's largest insurer by assets which has a large government bond portfolio, was also suffering in Tuesday's trading session.

At 0901 GMT Generali was down 5.84%, UniCredit 7.8%, Monte dei Paschi 7.3% and Intesa 8.1%. Milan's FTSE MIB was down 4.1%.

Write to Giovanni Legorano at giovanni.legorano@dowjones.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on UNICREDIT SPA
08:19p UNICREDIT : jumps 8% on sale of Polish unit reports
05:11pDJUNICREDIT : PZU Plans to Buy Banks in Poland, Expand Insurance Business Abroad -..
09:15aDJUNICREDIT : PZU Plans to Buy Banks in Poland, Expand Insurance Business Abroad
08/23DJPZU in Talks Over Buying UniCredit Stake in Bank Pekao -- Update
08/23DJPZU in Talks Over Buying UniCredit Stake in Bank Pekao
08/23DJPZU in Talks Over Buying UniCredit Stake in Bank Pekao
08/23 HSBC : SpareBank 1 Boligkreditt - new euro issuance
08/19 UNICREDIT : Milan bourse closes 2.18% down as banks suffer (2)
08/19 UNICREDIT : Milan bourse down 1.9% among weak European markets
08/13 CENTERRA GOLD : EBRD finances Centerra’s gold mine project in Turkey
More news
Sector news : Banks - NEC
10:27pDJCITIGROUP : Judge Blocks Taxi King's Abandonment of Cabs in Lender Dispute
09:05pDJInvestors Renew Appetite for Europe's CoCo Bonds -- Update
08:04pDJROYAL BANK OF CANADA : Profit Increases--Update
07:39pDJJPMORGAN CHASE : J.P. Morgan Creates Executive Role to Lead Cloud Services -- Up..
07:12pDJInvestors Renew Appetite for Europe's CoCo Bonds
More sector news : Banks - NEC
News from SeekingAlpha
08/01 EUROPEAN BANKS : Stress Tests Out, Who Cries And Who Laughs
08/01 RESOURCE SECTOR DIGEST : Deutsche Bank And Unicredito Barely Pass The Stress Tes..
07/29 Endgame For Italian Banks
07/25 ITALIAN BANKS : The Phantom Menace
07/25 PADOAN : There's no banking problem in Italy
Advertisement
Financials (€)
Sales 2016 22 200 M
EBIT 2016 8 622 M
Net income 2016 1 879 M
Debt 2016 -
Yield 2016 5,80%
P/E ratio 2016 7,22
P/E ratio 2017 4,99
Capi. / Sales 2016 0,58x
Capi. / Sales 2017 0,57x
Capitalization 12 926 M
More Financials
Chart UNICREDIT SPA
Duration : Period :
UniCredit SpA Technical Analysis Chart | UCG | IT0004781412 | 4-Traders
Full-screen chart
Technical analysis trends UNICREDIT SPA
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 2,90 €
Spread / Average Target 39%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Jean-Pierre Mustier Chief Executive Officer
Giuseppe Vita Chairman
Paolo Fiorentino Chief Operating Officer
Marina Natale Chief Financial Officer
Vincenzo Calandra Buonaura Vice Chairman
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
UNICREDIT SPA-61.83%14 592
WELLS FARGO & CO-10.95%244 255
INDUSTRIAL AND COML BA..-2.40%239 050
JPMORGAN CHASE & CO.-0.39%237 560
CHINA CONSTRUCTION BAN..-8.48%187 066
BANK OF AMERICA CORP-8.79%156 644
More Results