The delicate moment for the banking sector is confirmed. Today the Euro Stoxx Banks index marks a decline of as much as 1.27%, reaching its lows of more than two months. Downward movement that also affects the banks of the Ftse Mib: Unicredit is the worst with -1.86% in the 9.71 euro area. Decrease of more than 1% for Bper, Intesa Sanpaolo and Banco BPM.
The sector pays for the new retracement of bond rates. Overseas US long-term rates returned to rather low levels (the 10-year below 1.35%, the lowest since February) also thanks to the disappointing data on the ISM. “The trend in rates could reflect a temporary concern about long-term growth, in light of recently disappointing leading indices (particularly the US and
China) ”, the experts of MPS Capital Services remark today.
For Italian banks, the M&A argument remains in the background. The possible MPS stew continues to hold its own in the press, while today the Future returns to talk about a possible takeover bid on Banco BPM. By calculating the tax bonuses of the Sostegno bis Decree, the investment banks have highlighted benefits of € 3.9 billion from the UniCredit-Banco BPM combination against the € 2.9 billion of the UniCredit-Mps marriage and the € that Banco BPM-Bper.