UniCredit SpA
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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Italy looks like fertile ground for a mega merger deal in banking
Key Points “If you assess individual banks in Italy, it’s difficult not to believe that something will happen, I would say, over the next 12 months or so,” Antonio Reale, co-head of European banks at Bank of America, told CNBC. Speaking in March, Italy’s Economy Minister Giancarlo Giorgetti said “there is a specific commitment” with […]
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European stocks head for mixed open as selloff eases; U.S. inflation data due
Traders work on the floor of the New York Stock Exchange as a picture of Vice President Kamala Harris is displayed on a television screen, on July 22, 2024. Spencer Platt | Getty Images LONDON — European markets are heading for a mixed open Friday, as a global stock selloff eases and investors await U.S. […]
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European markets move lower as positive momentum falters
Stock price information reflected on a window at the Euronext NV stock exchange in Paris, France, on Monday, March 13, 2023. Nathan Laine | Bloomberg | Getty Images European markets were lower Tuesday, as positive momentum over the past few days falters. The pan-European Stoxx 600 was down 0.3% by 2:35 p.m. London time, with all […]
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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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Europe is obtaining its worst earnings period considering the fact that the onset of Covid — with small hope of a brief turnaround
Arc of Triomphe Paris, Champs-Elysees France at evening vichie81 / iStock / Getty Visuals In addition LONDON — All over a 50 percent of European firms missed earnings expectations in the latest reporting season despite presently minimal expectations, analysts advised CNBC, who predicted that the location will proceed to struggle amid large desire charges. As […]
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