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Intesa Sanpaolo (OTC:ISNPY) Stock, Option Chain

INTESA SANPAOLO ADR

Intesa Sanpaolo

Intesa Sanpaolo is an Italian banking group resulting from the merger of Banca Intesa and Sanpaolo IMI in 2007. The Italian segment still accounts for by far the most of its earnings. Still, Intesa also has a growing international presence, focusing on some smaller countries in Central and Eastern Europe. Intesa has an enviable market position in the Italian savings market that it services through its private banking, asset management and life insurance operations, which accounts for around 25% of its revenue. While Intesa does have a sizable corporate banking business, it has limited exposure to securities trading and underwriting.

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ISNPY

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Right-Wing Italian Government Announces Soviet-Style 40% Windfall Tax On Bank Profits, Sparks Market Chaos

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On Tuesday, shares of Intesa Sanpaolo (OTC: ISNPY) experienced volatile short activity. After the activity, the stock price went down -1.38% to $14.29.

The overall sentiment for ISNPY has been Bullish.

Short Volatility Alert: Intesa Sanpaolo

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Deutsche Bank AG (NYSE: DB) CEO Christian Sewing claimed that the four-year strategic turnaround plan is the first priority for the German bank, but didn&#39;t rule out a merger early next year.

Deutsche Bank CEO Open To Merger Talks If Profitability Improves In Early 2021: Report

INTESA SANPAOLO S/ADR by Intesa Sanpaolo S.p.A.

Italy&#8217;s right-wing government made an unprecedented decision by applying a windfall tax charging a 40% <a href="https://www.benzinga.com/topic/banks">withdrawal from banks' profits.</a>
The tax, which strategically targets the net interest margin, disrupted the financial landscape Tuesday despite its aim to inject fresh resources into Rome&#8217;s debt-challenged coffers. 
By tapping into the heavy gains that banks have amassed due to the favorable interest rate environment, revenue can be channeled toward a housing mortgage fund and alleviate the tax burden experienced by both households and businesses, the Council of Ministers wrote. 
<h2 class="wp-block-heading">Italian Bank Revenues Soared As ECB Hiked Interest Rates</h2>
Italy&#8217;s decision to unveil this substantial tax policy comes against the backdrop of an unforeseen 0.3% contraction in the country&#8217;s GDP for the second quarter of 2023.
Major players within the Italian banking sector have recently reported stronger-than-anticipated balance sheets, coupled with upgraded forecasts, bolstered by the European Central Bank&#8217;s string of interest rate hikes, which have contributed positively to the banks&#8217; financial health.
Over the past year, the European Central Bank (ECB) has hiked interest rates for nine consecutive times, propelling the main refinancing operations rate to 4.25%, the highest it has been since October 2008, and the deposit facility rate to an over 22-year high of 3.75%. Italy&#8217;s leading financial institution, Intesa Sanpaolo Spa (OTCPK: ISNPY) reported record-high quarterly revenues that soared to an astonishing $6.34 billion.
<h2 class="wp-block-heading">Markets Punished The Move</h2>
The Milan stock market was the worst performer in Europe, with the FTSE MIB index plummeting by 2.5%, marking its most significant decline since mid-March. This downward trend is anticipated to extend to the iShares MSCI Italy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWI#NYSE">EWI</a>) on Tuesday. 
The banking sector, in particular, bore the brunt of the tax announcement. Intesa&#8217;s shares experienced a considerable drop of 8%, representing its most significant single-session decline since March 2022. Similarly, Unicredit Spa (OTCPK: UNCRY) witnessed a 6.5% decrease, underscoring the sector-wide impact of the tax decision.
Read Now: <a href="https://www.benzinga.com/news/large-cap/23/08/33628213/us-banking-sector-shaken-moodys-drops-credit-ratings-of-10-banks-sounds-alarm-for-more-downgrades">US Banking Sector Shaken: Moody&#8217;s Drops Credit Ratings Of 10 Banks, Sounds Alarm For More Downgrades</a>

On Tuesday, shares of Intesa Sanpaolo (OTC: <a class="ticker" href="https://www.benzinga.com/stock/isnpy#OTC">ISNPY</a>) experienced volatile short activity. After the activity, the stock price went down -1.38% to $14.29.
The overall sentiment for ISNPY has been Bullish.
The signal from the volatility alert is trending Bearish. Therefore, the recommendation is to Strong Sell.
The volatility alert was produced on the prior trading date, 5/30/2023 with a volatility change of +184.23%. The current volatility indicator stands at 32.85.
Overview: The securities lending volatility indicator is produced by Tidal Markets, in partnership with Benzinga Insights. Securities lending primarily serves the purpose of providing liquidity to short sellers. When unusual activity occurs in the securities lending markets, it acts as an upstream indicator to what is likely to occur downstream in the regular stock market.
Understanding the Volatility Alert: Overall sentiment is considered &quot;bear&quot; when broad market activity of the stock has been shown to indicate a negative directional basis, or is considered &quot;bull&quot; when indicating a positive directional basis. The securities lending volatility indicator provides a signal when it detects unusual short activity. Unusual short activity is based off a computer generated algorithmic formula utilizing securities lending trade details such as the volume of shares being shorted, the rate being paid to short the shares, and the type of collateral being posted - amongst other variables. The current volatility is the respective trading day&#39;s calculated securities lending volatility value. The volatility percentage change is the percentage difference in volatility between the two most recent days. The recommendation is a suggestive strategy, inferred from the strength of the Signal Trending, Current Volatility, and Volatility % Change. Recommendations may include, &quot;Strong Buy&quot;, &quot;Strong Sell&quot;, &quot;Increase Short Exposure&quot;, &quot;Decrease Short Exposure&quot;, or &quot;Market Neutral&quot;.
ANY INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE OR IMPLY INVESTMENT ADVICE

Deutsche Bank AG (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/db#NYSE">DB</a>) CEO Christian Sewing claimed that the four-year strategic turnaround plan is the first priority for the German bank, but didn&#39;t rule out a merger early next year. According to <a href="https://www.bloomberg.com/news/articles/2020-10-06/deutsche-bank-s-ceo-focused-on-strategy-but-won-t-rule-out-deal?sref=TBDibEcD">Bloomberg</a>,&nbsp;a takeover deal could be in the cards only if the bank&rsquo;s profitability improves in 2021.
What Happened: Sewing remarked in a Bloomberg interview that he would not want the bank to be a target of a takeover transaction. But an increase in share price or profitability figures could place Deutsche Bank in &ldquo;a better position&rdquo; to negotiate. The German bank&#39;s&nbsp;CFO James von Moltke hinted that it is also open to cross-border mergers, as <a href="https://www.bloomberg.com/news/articles/2020-09-22/deutsche-bank-cfo-signals-preference-for-cross-border-mergers?sref=TBDibEcD">reported</a> by Bloomberg last month.
The pandemic outbreak has forced European banks to revisit their branch banking strategies. In September, Deutsche Bank decided to close one out of five branches in Germany, reducing its presence to around 400 units, Reuters <a href="http://www.reuters.com/article/deutsche-bank-branches-exclusive/exclusive-deutsche-bank-to-close-20-of-german-branches-in-coronavirus-shift-idUSKCN26D0YM">reported.</a>
Why Does It Matter: Executives from leading European investment banks, including Von Moltke, believe that the European banking sector is due for consolidation and the markets would witness more takeover agreements.&nbsp;&nbsp;
In September, CaixaBank S.A. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/caixy#OTC">CAIXY</a>) and Bankia SA <a href="https://www.bankia.com/en/communication/news/caixabank-bankia-merger-plan-spains-leading-bank.html">created</a> the biggest bank in Spain through a merger deal. Whereas in July, Italian bank Unione di Banche Italiane S.p.A (UBI Banca) was subject to a hostile takeover by Intesa Sanpaolo Spa (OTC: <a class="ticker" href="https://www.benzinga.com/stock/isnpy#OTC">ISNPY</a>), the&nbsp;<a href="https://www.ft.com/content/8942cf87-f95a-4fef-9213-ce8258371904">Financial Times</a>&nbsp;reported.
Price Action: DB stock gained 2.35% during Monday&rsquo;s trading hours to close at $8.70.
Photo courtesy: Deutsche Bank via Flickr

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