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Italian Banks Plunge On Ratings Review

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http://www.bloomberg.com/news/2011-06-24/italian-banks-slump-as-rating-review-sparks-concern-debt-crisis-may-spread.html

UniCredit SpA (UCG) and Intesa Sanpaolo SpA (ISP) slumped in Milan after a review of lenders’ credit ratings spurred concern the European debt crisis may spread just as banks face scrutiny from regulators over capital levels.

UniCredit, Italy’s biggest lender, led the drop, tumbling as much as 8.9 percent. Intesa Sanpaolo, the country’s second- largest bank by assets, slid as much as 7.2 percent. Both stocks were briefly suspended after breaching limits on intraday swings.

Moody’s Investors Service said yesterday it may downgrade 13 Italian banks because they would be vulnerable to a cut in the government’s credit rating. The firm said last week Italy’s ratings may be cut because of slowing economic growth and the potential for the sovereign crisis to drive the country’s borrowing costs higher. Italian banks are also being stress- tested by European regulators next month to assess whether they have sufficient capital.

UniCredit Share price

A bit spike in the price in Feb for some reason, followed by a massive sell, although it's still no where near it's low in 2009.

Intesa Sanpaolo SpA

Same pattern with this bank as well.

There appears to have been a big rally in both banks around Feb 2011.

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http://www.bloomberg.com/news/2011-06-24/italian-banks-slump-as-rating-review-sparks-concern-debt-crisis-may-spread.html

UniCredit Share price

A bit spike in the price in Feb for some reason, followed by a massive sell, although it's still no where near it's low in 2009.

Intesa Sanpaolo SpA

Same pattern with this bank as well.

There appears to have been a big rally in both banks around Feb 2011.

RBS just broke it's 52 week low on this. It was up over 2% this morning now down another 1.5% after a 5% decline yesterday.

Edit FTSE top three worst performers today, lloyds barclays and RBS. Those charts look nasty!

Edited by Pent Up

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RBS just broke it's 52 week low on this. It was up over 2% this morning now down another 1.5% after a 5% decline yesterday.

Edit FTSE top three worst performers today, lloyds barclays and RBS. Those charts look nasty!

With LLOY very close to its all time low of 42p. Time to catch those falling knives?

Wonder if it would be ok to refuse free bank shares from the government on the basis that you'd be taking on a liability?

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With LLOY very close to its all time low of 42p. Time to catch those falling knives?

Wonder if it would be ok to refuse free bank shares from the government on the basis that you'd be taking on a liability?

Possible not if they do a mass mailout based on the HMRC tax roll. Although would that breach data protection rules?

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With LLOY very close to its all time low of 42p. Time to catch those falling knives?

Wonder if it would be ok to refuse free bank shares from the government on the basis that you'd be taking on a liability?

I won't be catching any falling knives!

I think RBS would have to be above 51p for your free shares to be in profit. Currently 36p

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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