Sad day in Piazza Affari for Intesa Sanpaolo, plagued by profit-taking. After the stock market exploits of the last few days which led the share of the first Italian bank to gain 21,57% in just three sessions (+5,75% only yesterday), today the shares show a sharp decline. Around 11 the losses were more than 30%.
In reality, it was Fitch who lit the fuse of the sales, which announced yesterday after the markets were closed that it had cut the outlook on the Bank from "stable" to "negative", while keeping the "AA-" rating unchanged. The decision was taken due to fears that the difficult operating context would cause permanent pressure on profitability for Italian banks in the medium term. From the historic lows reached on 12 September to yesterday, Intesa shares recovered 33,4%.
