MILAN (Reuters) – Leading Italian insurer Generali said on Thursday it was pulling out of Russia after Moscow’s invasion of Ukraine, while Intesa Sanpaolo, Italy’s biggest bank, is reviewing its presence there. Generali said that it would be closing its Moscow office and would wind down its Europ Assistance business in Russia, confirming an earlier …
Italy’s Generali to pull out of Russia as Intesa reviews business Read More »
By Shashank Nayar and Bansari Mayur Kamdar (Reuters) – London’s FTSE 100 slumped on Thursday, as volatile crude prices sent heavyweight oil stocks sharply lower, while investors feared the impact of the fast-unfolding Ukraine crisis. The FTSE 100 index settled 2.6% lower, as oil majors Shell and BP fell 5.7% and 4.3%, respectively, tracking a …
British stocks close more than 2% lower in volatile trade Read More »
LONDON (Reuters) – Societe Generale declined on Thursday to comment on the future of its presence on the Russian market after stating it could cope if stripped of its business in Russia. Asked whether SocGen intended to exit the market or sell its Russian unit Rosbank, a spokesperson answered the group had no comment on …
SocGen declines to comment on future of its presence in Russia Read More »
ROME (Reuters) – Italy’s unemployment rate fell to 8.8% in January from 9.0% in December, data showed on Thursday, due to people withdrawing from the labour market, while employment levels were broadly stable for the second month running. However, in the three months to January employment was up by 120,000 or 0.5%, compared with the …
Italy Jan jobless rate falls to 8.8% as fewer people seek work, employment level stable Read More »
MILAN (Reuters) – The iShares MSCI Russia ADR/GDR ETF rallied over 40% on Thursday after the London Stock Exchange froze trading in global depositary receipts of several Russia-based companies. The ETF, which gives exposure to Russian companies like Sberbank and Gazprom that are now impossible to trade elsewhere, gained 46% to $24.1 by 0854 GMT …
London-listed Russian ETF up 40% after LSE halts receipts trading Read More »
By Elvira Pollina MILAN (Reuters) – Telecom Italia’s (TIM) new boss said all shareholders stood to benefit from his standalone plan, setting it out as an alternative to a 10.8 billion euro ($12 billion) approach from U.S. fund KKR. TIM CEO Pietro Labriola said the KKR approach was hedged with a whole series of uncertainties …
With KKR looming, Italy’s TIM sets out standalone benefits Read More »
By Tassilo Hummel and Tom Sims PARIS/FRANKFURT (Reuters) – Societe Generale can see an “extreme scenario” where Russia strips the bank of its local operations, it said on Thursday, in one of the starkest warnings yet from a Western company about the potential fallout from the war in Ukraine. The French bank, with one of …
SocGen could be stripped of Russia arm in ‘extreme scenario’ Read More »
(Reuters) – Credit Suisse downgraded Royal Mail on Thursday as it sees risks to parcel volume growth and margins due to easing of movement restrictions, a sharp decline in COVID-19 cases and rising labour costs as the centuries-old postal company struggles with inflation. Credit Suisse analyst Hannah Burrows cut Royal Mail to “underperform” from “neutral” …
Credit Suisse puts UK’s Royal Mail back to lowest rating on risks to volume growth Read More »
LONDON (Reuters) – Russian stocks and bonds are now “in the realms of utterly uninvestable,” the chief executive of Schroders Peter Harrison told Reuters on Thursday. Russia’s invasion of Ukraine will “fundamentally change the nature of Europe for a long time to come,” Harrison said. The British money manger’s combined holdings of Russia, Ukraine and …
Schroders CEO says Russia now ‘in the realms of utterly uninvestable’ Read More »
LONDON (Reuters) -British cybersecurity company Darktrace on Thursday raised its full-year revenue and margin guidance for the second time in three months, reflecting strong customer growth and retention, sending its shares sharply higher. The stock was up 15% at 529 pence at 0840 GMT after the firm said it now expected a year-on-year increase in …
Darktrace raises 2022 outlook again on strong cyber demand Read More »
