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UniCredit is back as a major worry.Shares of the big Italian bank were down over 7% yesterday when it revealed that it had to price equity at a super-cheap price in order to raise fresh capital. And the worries are continuing today, with the stock down another 8.55%.
One reason to worry is that this is all coming after the ECB’s move to make liquidity much more available, so obviously, to investors, the situation at UniCredit is much worse than just liquidity, but actual solvency as well.
The stock is below its March, 20009 levels.