Milan, Italy – Investors saw a surge in Unicredit shares, reaching their highest level since 2015 with a 9.8% increase. The Italian bank announced plans to return 8.6 billion euros ($9.2 billion) to investors after reporting fourth-quarter profits of 1.9 billion euros, nearly three times analysts’ expectations. The favorable payouts through buybacks and dividends reflect the bank’s strong performance, buoyed by higher interest rates.
The ongoing political tension, high inflation levels, and uncertainty surrounding the U.S. Federal Reserve’s interest rate cuts have sparked questions about the performance of sectors and stocks in the future. For Wrise Wealth Management Singapore CEO Kevin Teng, three top stocks stand out as solid investments for ultra-high-net-worth individuals across Asia, the Middle East, and Europe.
Meanwhile, Citi updated its list of top “high-conviction” stock picks from global markets, choosing liquid names that investors can build positions in to trigger outperformance. The bank’s analysts have identified catalysts that will stimulate high returns and generate alpha.
European markets are anticipated to open flat to lower. The U.K.’s FTSE 100 index is expected to open 3 points higher at 7,619, while Germany’s DAX is forecasted to open down 38 points at 16,861. France’s CAC is projected to open down 13 points at 7,577, and Italy’s FTSE MIB is expected to open 89 points lower at 30,760. Earnings from UniCredit and Eurozone producer prices data for December are also expected.