Italy outlines options for Poste stake sale, decree shows
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 01 2024
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Source: NASDAQ.COM
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Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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Italy scales back plans to sell stake in Poste By Reuters
- Italy Retains Majority Stake in Poste Italiane: Italy will keep 51% ownership of Poste Italiane, reversing plans to reduce the state's stake from 64% to as low as 35%.
- Challenges in Debt Reduction: The decision reflects challenges in using asset sales to manage Italy's significant public debt.
- Revised Decree for Poste Stake Sale: Following criticism, Italy plans to review a decree to sell a smaller stake in Poste, ensuring the state never goes below 51% ownership.
- Debt Reduction Program: Italy aims to raise about 0.7% of GDP through asset sales between 2025 and 2027 to address its high public debt relative to domestic output.
- Union Concerns and Government Plans: Unions express caution over the sale, urging the government to abandon divestment plans, citing potential lower returns compared to dividends from Poste.
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Banco BPM Raises Targets, Sweetens Bid for Anima
Banco BPM's Offer Increase: Banco BPM has raised its offer for asset manager Anima to 7 euros per share from an initial bid of 6.20 euros, aligning with Anima's market value of approximately 2.2 billion euros.
Response to Takeover Approach: The move comes as Banco BPM seeks to strengthen its position amid an unsolicited takeover attempt by UniCredit.
See More
Rates to Stay Higher for Longer? ETF Strategies to Play
- Fed's Interest Rate Cut Predictions: Neel Kashkari of the Fed suggests a possible interest rate cut in December 2024, emphasizing the need for more evidence on inflation trends before deciding.
- Market and Economic Outlook: Despite recent rate hikes, the U.S. job market remains strong, with expectations of gradual economic cooling. Inflation is slightly above the Fed's 2% target.
- Investing Strategies for Rising Rates: Suggestions include senior loans, floating rate bonds, cash, short-term fixed income, and niche ETFs to mitigate risks in a rising rate environment.
- ETF Investment Options: Various ETFs like Virtus Seix Senior Loan ETF, iShares Floating Rate Bond ETF, and ProShares UltraShort Real Estate are highlighted as potential investment choices.
- Recommendations for Investors: Consider inverse REIT ETFs, shorting U.S. treasuries, and exploring ETF options like Simplify Interest Rate Hedge ETF and Global X Interest Rate Hedge ETF for protection against rising rates.
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Italy scales back plans to sell stake in Poste By Reuters
- Italy Retains Majority Stake in Poste Italiane: Italy will keep 51% ownership of Poste Italiane, reversing plans to reduce the state's stake from 64% to as low as 35%.
- Challenges in Debt Reduction: The decision reflects challenges in using asset sales to manage Italy's significant public debt.
- Revised Decree for Poste Stake Sale: Following criticism, Italy plans to review a decree to sell a smaller stake in Poste, ensuring the state never goes below 51% ownership.
- Debt Reduction Program: Italy aims to raise about 0.7% of GDP through asset sales between 2025 and 2027 to address its high public debt relative to domestic output.
- Union Concerns and Government Plans: Unions express caution over the sale, urging the government to abandon divestment plans, citing potential lower returns compared to dividends from Poste.
See More
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See More
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