Banks, the return on the stock market declines MPS loses 3.3%, Unicredit 6,41% – BBC

MARKET

Milan , January 25, 2016 – 21:24

Palazzo Midnight in Milan Stock

For banking stocks shooting it lasted the space of a morning. Today is again in the significant and widespread falls, despite the expectations and assumptions of risiko generally have positive effect on the sector concerned. Typically, because in this case the picture is not clear in any direction and it is the uncertainties in making markets more nervous. With the addition of the fact that large international asset managers, whose weight in the Italian stock market has grown strongly in recent years, in this period move globally in order to reduce risks. And our price is particularly under pressure.

“Italy is a country strong, the banking system as well,” stressed the Prime Minister Matteo Renzi. “However, we must accelerate the measures that are postponed too long, starting with mergers and aggregations of banks”, first of Popular for which the reform of our government, long disputed, is instead decisive and strategic. ”

And, if two strands that appear to have more targeted sales, related to the entire sector (with the exception of Carige, which gained 4.38%, perhaps due to the “stability” confirmed by shareholder Malacalza investments with 17,58%), the first is probably the assumptions circulating in recent days of a solution to three for the Montepaschi (whose situation was again described as “solid” by CEO Fabrizio Viola, facing unions) with an operation Ubi-BPM-MPS on one or more times. Rumor that was not commented, but one hand BPM appears concentrated in the two aggregation with Banco Popolare (but would remain the interest of Ubi in union with Milan), the day before yesterday reflections have focused on the fact however, an operation that three may involve the need to appeal to a significant recapitalization. Mps, who was playing well on the stock market, then sold the 3.33%, 3.09% Ubi, BPM 6.17% and Banco Popolare 7.09%.

The spotlights are then concentrated on Unicredit, which has suffered a decline of 6.41%. “The market is expecting a decision on the bad bank, we will see if in the coming days we will have some news,” said UniCredit CEO Federico Ghizzoni. “There has been much talk and speculation about the suffering, certainly waiting on Bad Bank which it has not yet resulted in a final decision has helped to emphasize the problem which does not look so dramatic. Unicredit have a level of net non performing loans amounting to 19 billion 500 billion of net loans, is only 4%, I believe a physiological fact. Surely the market took a negative expectation for bad banks that did not materialize in decisions. ”

And on the measures expected for this time aimed to ease our institutions from the burden of 88 billion Net bad debts (200 billion gross), a central point is general: such write-downs on impaired loans may be necessary? Question that raises fears that this may mean in some cases tensions in relation to the minimum assets. According to Mediobanca securities the price of bank shares are excessively harsh because current prices incorporate the hypothesis of coverage of non-performing loans (NPL) to 85%, corresponding to 37 billion in new provisions for credit losses. Instead, according to analysts at Mediobanca Securities, already a level of 73% is a prudent level and the worst case scenario that may emerge.

January 25, 2016 (modified January 25, 2016 | 22:14)

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