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Wednesday, 3rd December 2008

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Market Chatter: UniCredit rumours 'groundless'



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Published Date: 02 October 2008
SOURCES at UniCredit, Italy's second-largest bank, last night denied rumours that the bank's chief executive was about to leave and tried to reassure the market about the strength of its capital.
Once touted as a beacon among Italian banks for its modern, international profile, UniCredit has lost nearly a quarter of its value in two trading sessions.

Trading in the bank's shares was yesterday suspended for excessive losses.

Shares in Intesa Sanpaolo, Italy's largest bank by market value, were also suspended for excessive losses.

Rumours had circulated in Italian markets earlier in the week that Alessandro Profumo, UniCredit's charismatic chief executive, would step down. A source at the bank yesterday said these were "groundless".





The full article contains 120 words and appears in The Scotsman newspaper.
Page 1 of 1

  • Last Updated: 01 October 2008 8:54 PM
  • Source: The Scotsman
  • Location: Edinburgh
 
 

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