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French banks’ ups and downs obscure value problem

RPT-BREAKINGVIEWS-French banks’ ups and downs obscure value problem The author is a Reuters Breakingviews columnist. The opinions expressed are his own. By Liam Proud LONDON, Oct 31 (Reuters Breakingviews) - Société Générale SOGN.PA is starting to close the giant gap with its bigger and more successful rival BNP Paribas BNPP.PA . That’s one way to understand investors’ reaction to third-quarter results released by the French banking duo on Thursday.
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French banks’ ups and downs obscure value problem

RPT-BREAKINGVIEWS-French banks’ ups and downs obscure value problem The author is a Reuters Breakingviews columnist. The opinions expressed are his own. By Liam Proud LONDON, Oct 31 (Reuters Breakingviews) - Société Générale SOGN.PA is starting to close the giant gap with its bigger and more successful rival BNP Paribas BNPP.PA . That’s one way to understand investors’ reaction to third-quarter results released by the French banking duo on Thursday.
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Italy - Factors to watch on November 1

Italy - Factors to watch on November 1 The following factors could affect Italian markets on Friday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*). For a complete list of diary events in Italy please click on IT/DIA . COMPANIES Milan Stock Exchange After Hours market closed. INTESA SANPAOLO ISP.MI Italy's biggest bank Intesa Sanpaolo on Thursday promised to add a sizeable share buyback to dividend payments over 2024 results, af
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Fitch lifts UniCredit's rating to plus, one notch above Italy's

Fitch lifts UniCredit's rating to BBB-plus, one notch above Italy's By Valentina Za MILAN, Oct 31 (Reuters) - Fitch Ratings on Thursday increased its long-term rating on UniCredit's CRDI.MI debt to BBB-plus, one notch above Italy's sovereign level, in a move that reflects the bank's restructuring progress and geographical diversification. With a strong presence in Germany and Austria and operations across 13 countries, UniCredit has traditionally sought to leverage the strength deriving from its
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Intesa Sanpaolo says Fitch Revised Intesa Sanpaolo Outlook To Positive From Stable

BRIEF-Intesa Sanpaolo says Fitch Revised Intesa Sanpaolo Outlook To Positive From Stable Oct 31 (Reuters) - Intesa Sanpaolo SpA ISP.MI : FITCH REVISES INTESA SANPAOLO OUTLOOK TO POSITIVE FITCH CONFIRMS INTESA SANPAOLO LONG-TERM RATING AT 'BBB' Further company coverage: ISP.MI (Gdansk Newsroom)
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Intesa CEO plans to propose 'significant' buyback at year-end

BRIEF-Intesa CEO plans to propose 'significant' buyback at year-end Oct 31 (Reuters) - Intesa Sanpaolo Chief Executive Officer Carlo Messina tells analyst call: EXPECTS TO PROPOSE "SIGNIFICANT" BUYBACK TO BOARD AT YEAR-END BNP'S TRANSACTION WITH AXA HAS PROMPTED EVERYONE ELSE TO CONDUCT STUDIES THERE IS NO M&A TARGET IN WEALTH MANAGEMENT THAT WORKS
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Italy's Intesa eyes 'substantial' share buyback, ups 2025 profit goal

UPDATE 2-Italy's Intesa eyes 'substantial' share buyback, ups 2025 profit goal Adds comments from conference call in paragraphs 3-4 By Valentina Za MILAN, Oct 31 (Reuters) - Italy's biggest bank Intesa Sanpaolo ISP.MI on Thursday promised to add a sizeable share buyback to dividend payments on its 2024 results, after it beat expectations with its third-quarter profit and upgraded its guidance for next year.
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Italy's Intesa improves 2025 profit guidance after good quarter

Italy's Intesa improves 2025 profit guidance after good quarter MILAN, Oct 31 (Reuters) - Italy's biggest bank Intesa Sanpaolo ISP.MI on Thursday improved next year's profit forecast after reporting stronger than expected earnings for the third quarter, helped by a 10% yearly rise in net fees. Italian banks are working to boost fee income to offset the waning contribution from interest rates as the European Central Bank cuts the cost of borrowing.
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Intesa Sanpaolo Q3 Net Profit Beats Consensus At EUR 2.40 Bln

BRIEF-Intesa Sanpaolo Q3 Net Profit Beats Consensus At EUR 2.40 Bln Oct 31 (Reuters) - Intesa Sanpaolo SpA ISP.MI : Q3 NET PROFIT EUR 2.40 BILLION VERSUS EUR 2.26 BILLION IN LSEG CONSENSUS Q3 LOAN WRITEDOWNS EUR 238 MILLION Q3 FEES EUR 2.31 BILLION SEES IN 2025 NET PROFIT AT AROUND EUR 9.0 BILLION VERSUS ABOVE EUR 8.5 BILLION IN PREV GUIDANCE Q3 NE
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French banks’ ups and downs obscure value problem

BREAKINGVIEWS-French banks’ ups and downs obscure value problem The author is a Reuters Breakingviews columnist. The opinions expressed are his own. By Liam Proud LONDON, Oct 31 (Reuters Breakingviews) - Société Générale SOGN.PA is starting to close the giant gap with its bigger and more successful rival BNP Paribas BNPP.PA . That’s one way to understand investors’ reaction to third-quarter results released by the French banking duo on Thursday.
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Italy - Factors to watch on October 31

Italy - Factors to watch on October 31 The following factors could affect Italian markets on Thursday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*). For a complete list of diary events in Italy please click on IT/DIA . ECONOMY ISTAT releases September unemployment rate flash data (0900 GMT); October CPI flash data (1000 GMT); August industry sales data (1100 GMT).
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Italy readies market sale of Monte dei Paschi stake as longer-term plan elusive, sources say

REFILE-Italy readies market sale of Monte dei Paschi stake as longer-term plan elusive, sources say Refiles to fix wording in headline Rome must cut MPS stake to show EU it doesn't control bank Italy rescued MPS in 2017, wants strategic buyer for stake sale No active talks with merger candidates Banco BPM, BPER Banco BPM remains favoured option for government By Valentina Za, Giuseppe Fonte MILAN, Oct 30 (Reuters) - Italy is struggling to find a "strategic" buyer for its stake in lender Monte de
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CRC, GoldenTree to buy into Intesa linked risk transfer - Bloomberg News

MEDIA-CRC, GoldenTree to buy into Intesa CRE-linked risk transfer - Bloomberg News -- Source link: https://tinyurl.com/2dhsvxed -- Note: Reuters has not verified this story and does not vouch for its accuracy
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Italy - Factors to watch on October 28

Italy - Factors to watch on October 28 The following factors could affect Italian markets on Monday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*). For a complete list of diary events in Italy please click on IT/DIA . DEBT Ratings agency DBRS revised on Friday its trend on Italy to 'positive' from 'stable', citing recent improvements in the country's fiscal path, in a boost to Prime Minister Giorgia Meloni's government.
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Italy police arrest four over alleged illegal database access, source says

CORRECTED-UPDATE 1-Italy police arrest four over alleged illegal database access, source says Corrects first paragraph of Oct. 26 story to show Leonardo Maria Del Vecchio is being investigated and is not under house arrest, deletes sentence with detail of allegation about him in fifth paragraph By Emilio Parodi MILAN, Oct 27 (Reuters) - Italian police have placed four people under house arrest as part of a probe into alleged illegal access to state databases, and are investigating dozens, includ
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Italy police arrest four over alleged illegal database access, source says

Italy police arrest four over alleged illegal database access, source says MILAN, Oct 26 (Reuters) - Italian police have placed four people under house arrest as part of a probe into alleged illegal access to state databases by a private intelligence business run by a former policeman, a person with direct knowledge of the matter told Reuters. The person told Reuters that Leonardo Maria Del Vecchio, son of late billionaire Leonardo Del Vecchio, who founded Ray Ban-owner Luxottica, is among those
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Italy - Factors to watch on October 24

Italy - Factors to watch on October 24 The following factors could affect Italian markets on Thursday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*). For a complete list of diary events in Italy please click on IT/DIA . DEBT Treasury announces sale of 6-month BOT bills, with relative amounts to be auctioned on Oct.
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Financial Times - Oct 24

PRESS DIGEST- Financial Times - Oct 24 Oct 24 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines - Addison Lee to be bought by Singapore-listed group in 269 mln pounds deal - UK ministers explore using break clauses in asylum housing contracts - Arm cancels Qualcomm’s chip design licence amid legal dispute - UK competition regulator to probe investment barriers - Intesa Sanpaolo unveils p
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Italian bank Intesa strikes deal with unions to cut staff costs

UPDATE 3-Italian bank Intesa strikes deal with unions to cut staff costs Banks reduce staff as they digitise operations Intesa agrees 2,000 net early exits Another 5,000 employees leaving will not be replaced Adds more details on the deal in paragraphs 5-6,12 By Valentina Za MILAN, Oct 24 (Reuters) - Italy's largest bank Intesa Sanpaolo ISP.MI said it would save 500 million euros ($539 million) in staff costs starting from 2028 after reaching an agreement with unions to fund an early retirement
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Intesa Sanpaolo Says Accelerates Generational Change Through 9,000 Exits At No Social Cost

BRIEF-Intesa Sanpaolo Says Accelerates Generational Change Through 9,000 Exits At No Social Cost Oct 23 (Reuters) - Intesa Sanpaolo SpA ISP.MI : INTESA SANPAOLO SPA - 4,000 VOLUNTARY EXITS IN ITALY BY 2027 INTESA SANPAOLO SPA - TO IMPLEMENT 9,000 EXITS BY 2027 INTESA SANPAOLO SPA - CHARGES OF €350 MILLION TO BE BOOKED IN Q4 2024 INTESA SANPAOLO S
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