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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Intesa Sanpaolo    ISP   IT0000072618

INTESA SANPAOLO

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Is It Calm or Complacency in Italian Markets?

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02/11/2019 | 05:45am EDT

By Alex Frangos and James Willhite

Markets early Monday gave a big shrug to news over the weekend that Italy's top officials were taking aim at the country's central bank, which plays a big role in keeping Italy's financial system safe.

Italian government bond yields were in line with where they traded Friday, with the 10-year government bond yielding around 2.9%. Italian bank stocks traded slightly higher, with Intesa Sanpaolo and UniCredit both up slightly.

The news from The Wall Street Journal's Giovanni Legorano over the weekend:

ROME-Italy's populist government launched an unprecedented attack on the country's central bank over the weekend, saying its top brass should be replaced because it had failed to supervise effectively the country's troubled banking sector.

However, investors may think the attack lacks teeth. As the story notes:

Under the Bank of Italy's rules, the central bank chooses its own top appointees, though the government must endorse the bank's nominee. Final approval rests with President Sergio Mattarella--a respected figure in Italy's establishment and another bete noire of the League and 5 Star Movement.

But markets also have a history of ignoring Italy's politics until they don't.

Write to Alex Frangos and James Willhite at alex.frangos@wsj.com and james.willhite@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
INTESA SANPAOLO -1.98% 2.275 End-of-day quote.17.28%
UNICREDIT SPA 1.29% 12.194 Delayed Quote.22.70%
UNICREDIT SPA -1.86% 12.11 End-of-day quote.22.40%
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Financials (€)
Sales 2019 17 649 M
EBIT 2019 8 156 M
Net income 2019 3 723 M
Debt 2019 -
Yield 2019 7,63%
P/E ratio 2019 10,70
P/E ratio 2020 9,56
Capi. / Sales 2019 2,30x
Capi. / Sales 2020 2,26x
Capitalization 40 640 M
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Technical analysis trends INTESA SANPAOLO
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 25
Average target price 2,38 €
Spread / Average Target 2,6%
EPS Revisions
Managers
NameTitle
Carlo Messina MD, Chief Executive Officer & Director
Gian Maria Gros-Pietro Chairman
Rosario Giacomo Strano Chief Operating Officer
Stefano del Punta Chief Financial Officer
Massimo Proverbio Chief Information Technology & Digital Officer
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