Italy banks stocks regain ground as cap set on windfall tax

Early trading witnessed a rise in Italian banking stocks, recovering some of the lost ground following the government’s recent announcement of a cap on windfall taxes for the nation’s financial institutions. Shares of Intesa Sanpaolo (BIT:ISP), Banco BPM (BIT:BAMI), and UniCredit (BIT:CRDI) surged between 1.7% and 2.5% as of 0730 GMT, while Finecobank led the […]

Moody’s has recently lowered the credit ratings for ten banks and issued warnings to six additional banks.

The recurring factors of increased funding expenses and challenges to profitability were evident across these banks’ second-quarter earnings reports. Moody’s has downgraded the credit ratings of ten midsized banks by one notch. These include M&T Bank (MTB), Webster Bank (WBS), Pinnacle Financial Partners (PNFP), BOK Financial Corp. (BOKF), Associated Banc-Corp. (ASB), Old National Bancorp (ONB), […]