Today the Stoox Europe Bank index, with the daily drop of about 2%, entered Bear Market territory (-20% from the period peaks). The downward pressure on Italian banks is due to the concrete risk of a recession and the prospect of even lower interest rates which will weigh on margins.
The moment of Banco BPM continues, which drops by over 4%, bringing the balance of the last three sessions to over -16%, that is, after the presentation of the new plan to 2023. From the peaks of February 19, the share marks over -35%. According to what Repubblica writes today, the M&A scenario for Banco BPM could see the entry into play of the French giants already present in ITalia, namely Bnp Paribas and Crédit Agricole. Mediobanca Securities does not see French banks move to Italy and in general it is also cold on other M&A tracks for Banco “since Unicredit is focused on its capital return strategy and diversification from Italy”.
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https://www.finanzaonline.com/notizie/banche-in-tilt-affondano-anche-intesa-sanpaolo-e-ubi
