UniCredit SpA
European banks saw their best first-half since 1997, but maintaining returns will be a challenge
European banks have had a bumper start to the year, outperforming almost all other sectors as investors reward a recent period of improved profitability — but analysts warn returns may not have as far to run in the second half. The Stoxx 600 Banks index has risen more than 28% in the first six months […]
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UniCredit CEO says Commerzbank currently too expensive for takeover offer
Andrea Orcel, chief executive officer of Unicredit, in London, UK, on Thursday, Nov. 23, 2023. Bloomberg | Bloomberg | Getty Images UniCredit CEO Andrea Orcel on Wednesday told CNBC that the share price of potential takeover target Commerzbank is currently too prohibitively expensive for a merger deal. UniCredit has built a surprise stake in Commerzbank […]
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How a Schroders fund manager doubled returns on a ‘rubbish’ stock in 3 months
No stock is off the table for Simon Adler, a value investor at Schroders. “We are happy to buy the worst business you have ever conceived, provided it is cheap enough,” Adler told the Value Investor conference of fund managers in London on Wednesday. Adler co-manages the Global Recovery, Global Income and Global Sustainable Value […]
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European stocks close higher after U.S.-China deal to cut tariffs
European stocks close higher European stocks closed higher Monday following news that the U.S. and China had reached an agreement to cut tariffs. The Stoxx 600 climbed 1.1% with mining stocks rallying nearly 5% to lead the gains. The U.K.’s FTSE 100 was 0.6% higher as France’s CAC 40 moved up 1.4% and Germany’s DAX climbed […]
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Europe stocks set to rise as investors look ahead to U.S.-China trade talks in Switzerland
European stock market futures point to a positive start after the U.K. and U.S. confirmed a trade agreement, and investors look ahead to the U.S.-China trade negotiations set to begin this weekend. The pan-European Stoxx Europe 600 index is expected to open higher by 0.3%, according to futures data from FactSet. The U.K.’s FTSE 100 […]
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Market turbulence will not impact Mediobanca deal, Monte dei Paschi CEO says
Key Points Monte dei Paschi di Siena downplayed the potential impact of ongoing market turbulence on its 13-billion-euro offer for Mediobanca, telling CNBC it expects to complete the deal this summer. Analysts have been divided over the benefits of the deal, with some warning that there are limited synergies in combining two different banks. Acquiring […]
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Europe’s banks battered as Trump tariffs put U.S. recession on the horizon
Reading, UK – JULY 5, 2021: British High Street Banks stopping account holders buying using or processing crypto related transactions as traditional banking industry declares war on crypto currencies Craig Hastings | Moment | Getty Images European banks have been battered in the wake of U.S. President Donald Trump’s sweeping and more-aggressive-than-anticipated tariffs. The European […]
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Germany’s second-largest lender Commerzbank to cut 3,900 jobs as it unveils new targets
The logo of German bank Commerzbank seen on a branch office near the Commerzbank Tower in Frankfurt. Daniel Roland | Afp | Getty Images Germany’s second-largest lender Commerzbank on Thursday announced it will eliminate 3,900 full-time positions by 2028, largely in its native Germany, as it unveiled a spate of new strategic targets. The job […]
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European stocks head for mixed open as global markets react to Trump’s latest tariffs
UniCredit sets profit goal of around 10 billion euros by 2027 UniCredit said it aims to increase net profit to around 10 billion euros by 2027, with the “ambition” to distribute more to shareholders than it did 2024. Italy’s second-largest lender posted fourth-quarter net profit that beat expectations amid market focus on the bank’s M&A overtures. […]
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Italy’s UniCredit posts fourth-quarter profit beat, raises shareholder returns
Key Points Italy’s second-largest lender UniCredit on Tuesday posted a fourth-quarter profit beat, raising shareholder returns amid market focus on the bank’s M&A overtures. The bank upped its cash dividend pay-out guidance to 50% of net profit in 2025, from 40% in 2024. CEO Andrea Orcel said UniCredit was progressing onto the next phase of […]
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