Banking
UniCredit Shares Open Down 8% on Ukraine Crisis
Published by maria gbaf
Posted on February 24, 2022
1 min readLast updated: February 8, 2026
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Company
Published by maria gbaf
Posted on February 24, 2022
1 min readLast updated: February 8, 2026
Add as preferred source on GoogleMILAN (Reuters) – Shares in UniCredit, whose Russian arm is one of the largest lenders in the country, fell as much as 8% on Thursday, before triggering an automatic trading suspension, hit by the escalation of the Ukraine crisis.
MILAN (Reuters) – Shares in UniCredit, whose Russian arm is one of the largest lenders in the country, fell as much as 8% on Thursday, before triggering an automatic trading suspension, hit by the escalation of the Ukraine crisis.
Russian forces fired missiles at several cities in Ukraine and landed troops on its coast on Thursday.
By 0819 GMT shares in UniCredit fell 4.3% against a 2.7% drop in Italy’s banking index.
Rival Italian heavyweight Intesa Sanpaolo, which is also active in Russia where it has financed major investment projects such as the ‘Blue Stream’ gas pipeline or the sale of a stake in oil producer Rosneft, fell 4.2%.
(Reporting by Valentina Za< editing by Giulio Piovaccari)
A financial crisis is a situation where the value of financial institutions or assets drops rapidly, leading to a loss of confidence in the economy. This can result in bank failures, stock market crashes, and economic recession.
Market capitalisation is the total market value of a company's outstanding shares of stock. It is calculated by multiplying the current share price by the total number of shares. It helps investors understand a company's size and investment potential.
Foreign currency refers to the money used in other countries, which is different from the domestic currency. It is often traded in the foreign exchange market and can affect international trade and investments.
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