0816 GMT - UniCredit's share rally on the back of better-than-expected quarterly results lifts its market capitalization to 88.5 billion euros, taking Intesa Sanpaolo's spot as Italy's largest lender when considering that metric. UniCredit's shares have gained 45% this year. The bank has been a key player in dealmaking at home and abroad as a wave of consolidation sweeps through Italy's crowded banking sector. "The M&A prospects are unclear given the different moving parts, but we think the final outcome of this process will be a more consolidated sector, with positive implications for profitability, including index positive effects for the shares," HSBC analyst Domenico Santoro says in a research note on Italian banks. Intesa, which has so far not taken part in the deal rush, remains Italy's largest bank by assets. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
May 13, 2025 04:16 ET (08:16 GMT)
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