Wednesday , February 24 2021

Italian bank stocks fell even after stress tests

BPM shares fell 3.4 percent, UniCredit declined more than 1.6 percent, Ubi Bank 1.8 percent and Intesa Sanpaolo dropped 2.2 percent.

5. November 2018 at 20:08 SITA

ROMA. The Italian banking system has been under pressure as the actions of the four major financial institutions of the country have fallen in spite of the global positive results of the most recent stress test carried out by the European Banking Authority (EBA).

BPM shares fell 3.4 percent on Monday morning, UniCredit decreased more than 1.6 percent, Ubi Banca 1.8 percent and Intesa Sanpaolo dropped 2.2 percent.

Analysts say the weakening of the actions points to a series of concerns on the part of Italy. The portal of has been informed.

The article continues according to video advertising

"In reality, the burden of evidence was generally positive for the Italian banks, but I think the actions fell when the issues related to the expectations related to Italy began to rise next year," said the American television company CNBC, Tom Kinmonth of ABN Amro.

Capital Economics analysts said that, despite the results, Italian banks are still "a source of concern". This is because "the economic assumptions that were the basis of this analysis are a bit optimistic."

Read also: The benefit of Ferrari exceeded more than double

EBA assessed the banks' balance sheets for 2017 and examined the data before the change of government in Rome. "If the EBA presented the basic scenario today, it would probably be expected to slow down," said Jack Allen, economist at Capital Economics, for the CNBC.

The new anti-statistician government in Italy said it would withstand EU tax rules. As a result, concerns about the country's ability to pay off debt increased.

It hit the Italian banks, as they are among the leading holders of Italian titles, he added. with.

Source link