Home » Ftse Mib accelerates downward in the wake of Wall Street, a drop of 5% for Banca Generali

Ftse Mib accelerates downward in the wake of Wall Street, a drop of 5% for Banca Generali

by admin

Acceleration to the downside on the lows of the day for Piazza Affari in the wake of the weakness of Wall Street (the three main indices over -1%) on the eve of the Fed. The Ftse Mib marks a decrease of 1.67% to 21,770 points. Financials suffer with over -3% for Intesa Sanpaolo and Mediobanca. Limit the damages Unicredit (-xxx) with the CEO Andrea Orcel who in an interview with Handelsblatt spoke of UniCredit’s intention to expand in Germany and to consider acquisitions.

Among asset management securities, a drop of 5% for Banca Generali which has defined the tax reliefs pending with the Revenue Agency for the tax periods from 2014 to 2019. Under the agreement, Banca Generali will bear an effective charge of € 45.99 million, of which higher taxes of € 40.7 million and interest of € 5.29 million, without the application of penalties due to the exemption of the penalty protection. Having already allocated € 10.6 million to the provision for tax risks, the bank will limit the actual charge for the year to € 35.4 million.

Meanwhile, expectations are growing for tomorrow’s Fed meeting in which the institute led by Powell is likely to announce for the third consecutive time a hike in its reference rates by 75 basis points. On bonds, the yield on the ten-year US Treasury reached 3.58%, while the two-year yield at 3.97%, the highest since 2007. In Europe, the ten-year Bund reached its highest since the beginning of 2014 in the 1.85 area. %.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy