Commerzbank AG
Commerzbank board member warns of significant job losses with a hostile UniCredit takeover
Key Points Stefan Wittmann, who is also a senior official at German trade union Verdi, told CNBC’s Annette Weisbach that “we certainly hope we can avoid” a hostile takeover by the Italian bank. UniCredit believes substantial value can be unlocked within Commerzbank, Germany’s second-largest lender, but it said that further action is required for that […]
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UniCredit boosts its stake in Commerzbank, applies to own up to 29.9% of the German bank
Commerzbank headquarters in the financial district of Frankfurt, Germany, on Sept. 12, 2024. Bloomberg | Bloomberg | Getty Images UniCredit announced on Monday it had increased its stake in German lender Commerzbank to around 21% and submitted a request to boost the holding to up to 29.9%. The Italian bank acquired the additional Commerzbank shares […]
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European markets flat as French and German PMIs point to renewed downturn
Customers sit outside at a cafe terrace in Paris, France, on Nov. 10, 2021. Bloomberg | Bloomberg | Getty Images LONDON — European stocks were flat in early trade Monday morning as German and French business activity data pointed to renewed declines in the region’s two largest economies. The pan-European Stoxx 600 index opened modestly […]
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Germany won’t sell more Commerzbank shares for now, finance agency says
A customer enters a Commerzbank AG bank branch in Berlin, Germany, on Tuesday, Aug. 6, 2024. Bloomberg | Bloomberg | Getty Images Germany will not sell any more shares in Commerzbank for the time being and the bank’s strategy is “geared towards independence,” the nation’s finance agency said on Friday. The statement comes days after […]
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What buying Commerzbank would mean for UniCredit — and the banking sector
Key Points Last week, UniCredit announced it had taken a 9% stake in Commerzbank, confirming that half of this shareholding was acquired from the government. UniCredit continues to surprise markets with some stellar quarterly profit beats. It earned 8.6 billion euros last year (up 54% year-on-year), also pleasing investors via share buybacks and dividends. Analysts are hoping […]
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UniCredit’s Andrea Orcel plays a bold hand, with Commerzbank in his sights
UniCredit CEO Andrea Orcel during an interview at the World Economic Forum (WEF) in Davos, Switzerland, on Jan. 18, 2024. Bloomberg | Bloomberg | Getty Images UniCredit‘s CEO Andrea Orcel revealed his hand this week as the Italian lender built a 9% stake in Commerzbank — and a takeover bid for the German rival could […]
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Europe stocks close with strongest gains for nine months as global rebound continues
Europe stocks close higher Stock Chart IconStock chart icon Stoxx 600 index. Europe’s Stoxx 600 index closed 1.56% higher on Wednesday, its best single-session performance for more than nine months. France’s CAC 40 leapt 1.9%, the U.K.’s FTSE 100 was up 1.75% and Germany’s DAX was 1.47% higher. — Jenni Reid Bank stocks climb Stock […]
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Morgan Stanley names its ‘highest conviction’ stock picks for Europe, giving 4 more than 30% upside
Morgan Stanley says it’s time for stock-picking in Europe as earnings season and rate cuts are imminent. The investment bank says stock-level dispersion and equities market breadth should rise from here. Stock-level dispersion refers to the range of returns for stocks, while market breadth tracks the number of stocks going up relative to those declining. […]
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Fintech targeted by climate skeptics banks $37 million from likes of UBS, Commerzbank
From left to right: Johan Pihl, Doconomy’s chief creative officer and co-founder, and Mathias Wikstrom, chief executive officer and co-founder. Doconomy Swedish climate-focused financial technology startup Doconomy told CNBC on Thursday that it’s raised 34 million euros ($36.9 million) from leading European banks, including UBS and Commerzbank. Doconomy, which offers tools to help bank customers […]
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Only 2 stocks in Europe have crushed estimates for 5 quarters and rallied each and every time
Only two European stocks have positively amazed markets every single quarter for the past 5 quarters, according to assessment by CNBC Pro. Italian lender UniCredit and Portugal’s Banco Comercial Portugues are the only shares in the Stoxx Europe 600 index that conquer analysts’ earnings for each share (EPS) estimates each individual quarter about the time […]
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