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home / news releases / unicredit stock rallies after ceo expects year guida

UNCRY - UniCredit stock rallies after CEO expects year guidance to 'substantially' improve

Unicredito SpA ADR 2017

  • UniCredit ( OTCPK:UNCFF ) ( OTCPK:UNCRY ) shares climbed 5.7% in late Thursday morning U.S. trading after the Italian bank's CEO said he sees 2022 guidance improving "substantially" as rising interest rates offset any slump in fee income.
  • The lender will upgrade its full-year guidance when it reveals third-quarter earnings, Andrea Orcel said at a Bank of America conference in London, adding that he feels good about 2023 "given the lines of defense and momentum we have."
  • Orcel pointed to the firm's robust commercial momentum spurred by an industrial transformation. It had enough provisions to absorb loan losses, as well as a high quality loan book, he added.
  • Earlier this week, (Sep. 21) UniCredit launches second share buyback for up to €1B.

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UniCredit stock rallies after CEO expects year guidance to 'substantially' improve
Stock Information
Company Name: Unicredito SpA ADR 2017
Stock Symbol: UNCRY
Market: OTC
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