Italy’s banks are “quite well-prepared” for the upcoming European stress tests, the second-in-command at the central bank told CNBC.» Read More
LONDON, Feb 12- Emerging stocks rose 1 percent on Wednesday to three-week highs, boosted by solid Chinese trade data and the new Federal Reserve boss who testified that there were no plans to speed up the pace of stimulus withdrawal. Currencies also rose, led by the Hungarian forint's half percent gains, while in Asia, the Korean won hit a one-month high to the dollar.
MILAN, Feb 12- Italy sold one-year debt on Wednesday at the lowest yield since the introduction of the euro as expectations that the European Central Bank may further ease monetary policy in the euro zone spurred demand for short-term debt. "In the last month... expectations of further policy easing by the ECB have mounted," UniCredit analysts said in a note.
LONDON, Feb 10- The lira and the forint fell more than half a percent on Monday, weakening against a generally positive backdrop for emerging assets after weak U.S. jobs data helped pare stimulus withdrawal bets.
*Single Supervisory Mechanism for sector to start on Nov. 4. FRANKFURT, Feb 7- The European Central Bank presented draft rules on Friday for how it will supervise commercial banks in the 18- nation euro zone from November, putting itself firmly in the driving seat.
*Intesa Sanpaolo and UniCredit in talks with KKR- sources. MILAN, Feb 6- Italy's top two banks, Intesa Sanpaolo and UniCredit, are in preliminary talks with U.S. investor KKR about setting up a fund to hold some of the lenders' problematic loans, two sources close to the matter said.
*Spain beats target at debt sale, yields fall. LONDON, Feb 6- Spanish bond yields fell on Thursday after a larger than usual debt auction went smoothly, boosted by expectations that the European Central Bank may ease monetary policy further.
LONDON, Feb 3- European banks have loaned in excess of $3 trillion to emerging markets, more than four times U.S. lenders and putting them at greater risk if financial market turmoil in countries such as Turkey, Brazil, India and South Africa intensifies.
Investors bet Hungary and Russia will be the next emerging economies forced to defend their currencies after India, Turkey and South Africa.
RIO DE JANEIRO/ LONDON, Feb 3- Emerging-market stocks extended a two-week sell-off on Monday as weak Chinese manufacturing and services data weighed on shares, while the currencies of South Africa and Turkey weakened after policymakers poured cold water on expectations of higher domestic interest rates.
*Hungary, Russia under pressure to raise rates next. LONDON, Feb 3- After abrupt interest rate rises in India, Turkey and South Africa, investors are now betting that Hungary and Russia will be the next emerging economies forced to defend their currencies, even though their finances look very different.
With many Asian markets, including China, shut for the lunar new year holidays, trading volumes stayed thin. "The question is at which point the weakening process will fade and we see normalisation," said Luis Costa, emerging markets strategist at Citi.
*Italy, Spain yields hold steady. LONDON, Feb 3- German 10- year bond yields hovered around six-month lows on Monday on increased expectation that low inflation will lead the European Central Bank to ease policy further in the coming months.
Euro zone banks will get time to come up with a plan to meet capital shortfalls highlighted by shock scenarios in upcoming stress tests, the European Central Bank said on Monday.
The Italian economic recovery is under way, but the job market will take a while to fully recover, the country's finance minister tells CNBC.
A delay to vital fundraising at Banca Monte dei Paschi di Siena has increased the risk that the bank has to be nationalized.
The top investor in Banca Monte dei Paschi di Siena looked set to force a delay in a 3-billion euro capital hike the Italian lender needs to carry out.
UniCredit said on Tuesday it reached a deal with Cerberus European Investments to sell a portfolio of non-performing loans.
Alexander Proschofsky, the leader of a shareholder revolt against Julius Meinl over the management of his bank, is a rare example of an activist investor in a culture where consensus is the norm.
Italy's FTSE MIB traded down 2.5 percent on Monday after members of Berlusconi's center-right People of Freedom (PDL) party threatened over the weekend to bring down Prime Minister Enrico Letta's government.
Commerzbank Chief Financial Officer Stephan Engels said the default of Detroit had dented second-quarter earnings, adding that the lender had made "adequate" provisions.