UniCredit plans bond sale January 24, 2012 ITALIAN bank UniCredit is looking to sell up to €25bn in covered bonds, hot on the heels of its €7.5bn rights issue to shore up its capital base, according to regulatory filings. UniCredit said in a prospectus filed with the Luxembourg Stock Exchange that the proceeds would be used “for general funding purposes of the [...]
UniCredit is suspended January 4, 2012 UNICREDIT shares had to be suspended yesterday as it revealed it has been forced to heavily discount its rights issues after current shareholders said they would sign up to buy just 14 per cent of the new equity. The bank’s stock plunged over ten per cent in less than half an hour yesterday, with its [...]
UniCredit stock in volatile bounce January 10, 2012 UniCredit shares and rights to buy into the Italian bank’s €7.5bn (£6.2bn) capital increase rallied after three days of falls yesterday, with traders saying volatility remains high. The bank’s rights issue, which runs to 27 January, is regarded as a litmus test of investor appetite for European banks, which must find €115bn by June to [...]
Abu Dhabi set to raise stake in UniCredit January 17, 2012 ABU Dhabi’s sovereign wealth fund Aabar yesterday threw its support behind beleaguered Italian bank UniCredit by pledging to raise its stake to 6.5 per cent. Aabar said it would increase its holding through its Luxembourg subsidiary as part of UniCredit’s ongoing €7.5bn (£6.2bn) rights issue. “We are intending to participate in the rights increase and [...]
BlackRock UniCredit stake in focus January 11, 2012 Italian market watchdog Consob is looking into two contradictory statements made by BlackRock, the world’s largest asset manager, over its stake in UniCredit, a source close to Consob said yesterday. BlackRock said yesterday its holding in the Italian bank stood at 3.09 per cent, retracting an earlier statement which said it had cut its stake [...]
UniCredit in fresh share price plunge January 9, 2012 TRADING in shares and rights in Italy’s largest lender, UniCredit, had to be suspended for the second time in a week yesterday after falling too quickly. The 12.8 per cent fall yesterday means that the bank has lost nearly half of its value in just one week since giving details of its heavily discounted rights [...]
US retail sales bounce back August 14, 2012 RETAIL sales in the US spiked by 0.8 per cent last month, surprising analysts and providing a glimmer of hope for the American recovery. The figure represented the first time in four months that retail sales had grown, while June’s result was revised down from a 0.5 per cent fall to a 0.7 per cent [...]
Hints of Kazakh interest give a boost to UniCredit January 12, 2012 SHARES in UniCredit, the Italian bank in the throes of a massive rights issue, were boosted yesterday by suggestions that a Kazakhstan wealth fund had amassed a five per cent stake. Il Giornale newspaper said Samruk Kazyna had built up the disclosable holding but yesterday the fund said the report was inaccurate, without saying whether [...]
Bulls pin hope on ECB despite negative data September 3, 2012 EUROPEAN stocks ended higher yesterday, extending the previous session’s rally as investors’ hopes of further stimulus from central banks overshadowed grim manufacturing data from China and Europe. The FTSEurofirst 300 index of top European shares ended 0.8 per cent higher at 1,091.61 points, with the index experiencing its lowest trading volumes since last December’s Christmas [...]
UBS is still a big player despite recent predicaments November 22, 2012 Anybody taking just a cursory glance at the headlines about UBS’s investment bank recently, might be forgiven for thinking it was something of a basket case. What with the news of a plan to shrink headcount by 10,000, a strategic refocusing of strategy away from high risk, complex trading products, followed by a guilty verdict [...]