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Monday, March 25, 11:07 AM The Italy (EWI -3.7%) and Spain (EWP -3.1%) ETFs lead a now-tumbling Europe (FEZ -1.8%) as - maybe we're being too simplistic here - Eurogroup President Dijsselbloem has more or less told anybody with greater than €100K in deposits at what could be a troubled bank they need to think about getting their money out. Italy's Unicredit and Intesa Sanpaolo are halted down more than 5%. EUFN -2.4%. 33 Comments [Global & FX, Financials, On the Move]
Thursday, February 21, 4:48 AM Italy's recession is going to cause a fifth of Italian companies to fail, warns Enrico Cucchiani, the CEO of banking company Intesa Sanpaolo. "The bottom 20% has seen top line shrinking 35-45%, so it's clear that these companies won't make it," Cucchiani says. "It is going to fuel non-performing loans and that makes banks very reluctant to lend to this sort of company." Italian banks are sharply lower, with Intesa -3.8%. Comment! [Global & FX]
Monday, July 23, 2012, 6:10 AM Trading in Italian banks was suspended earlier following sharp falls, although it seems to have resumed for at least UniCredit, which is -6.5%. Intesa Sanpaolo -9%, Banca Monte dei Paschi -9%. Milan shares -4.9%, yields on 10-year government bonds +19 bps to 6.35%. Comment! [On the Move, Global & FX]
Wednesday, April 11, 2012, 3:02 PM Recent market volatility hitting Europe is a good thing, says the Chairman of Intesa Sanpaolo, Italy's largest bank - it keeps up pressure on politicians and citizens "to work on the necessary reforms at the right pace ... We should consider short-run volatility as a fact of life and as a useful indicator, not as hard truth." Wise words. Comment! [Global & FX, Financials]
Thursday, March 15, 2012, 1:04 PM Italy's Intesa Sanpaolo (ISNPY.PK) posts a €10B Q4 loss as it writes off about that much goodwill from the 2007 merger that created the bank. Sinking initially on the news, shares move sharply higher, +4%. "The bank is well-positioned now," says its CEO. 1 Comment [Global & FX, Financials]
Wednesday, February 29, 2012, 6:55 AM Italy's Intesa Sanpaolo (ISNPY.PK) tapped the ECB for €24B at today's LTRO II, according to its CEO, as reported by Reuters. That makes €505.5B still to be accounted for. 1 Comment [Global & FX, Financials]
Thursday, January 19, 2012, 11:30 AM Italian banks tapped the ECB's LTRO for €50B in December - covering 90% of their 2012 funding needs, with a second auction set to take place next month. Italy (+2.5%) is leading Europe higher today with especially gaudy gains by its banks. Unicredit +13.4%, Popolare +15%, Intesa +6.9%. (see also) Comment! [Global & FX, Financials]
Wednesday, December 21, 2011, 4:22 AM UniCredit (UNCFF.PK) and Intesa Sanpaolo (ISNPY.PK) are among the Italian banks that will reportedly use bonds guaranteed by Italy as collateral for loans from the ECB. Sources say officials from Italy's biggest banks are meeting with the Finance Ministry today to define the terms of the transaction. In Italy, UniCredit +2%, Intesa +2.6%. 1 Comment [Global & FX, Financials, On the Move]
Friday, October 7, 2011, 1:18 PM You can't make this stuff up. At a presentation to defend the prospects of troubled Italian lender Intesa Sanpaolo, one of the slides points to the bank's high safety rank (#4) in Europe based on the recent stress tests. The bank that ranks #1 ... Dexia. 5 Comments [Global & FX, Financials]
Monday, January 31, 2011, 7:45 AM There's an investment lesson in here somewhere as European financial stocks have their best January in a decade amidst a barrage of concerns over bad debt and threats of rate hikes. For the month: EUFN +8.7% vs. XLF +1.9%. STD +13.7%. SCGLY.PK +10.6%. DB +13.0%. CS +11.7%. Comment! [Global & FX]

IITSF.PK Intesa Sanpaolo Spa

IITSF.PK

Intesa Sanpaolo Spa