: Italian bank shares slump on surprise windfall tax


UniCredit UCG, -6.59% and Intesa Sanpaolo ISP, -7.97% shares slumped on Tuesday after a surprise windfall tax was agreed by the Italian government on Monday night. Terms call for a 40% tax on what is called excess net interest income, for both 2022 and 2023. Analysts at Citi say the tax will hurt earnings on average by 19%.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleBeth Pinsker: If you want to avoid student loans, your parents better be willing to shell out 57% of the total price of college
Next articleU.S. stocks would be much lower if it wasn’t for ‘excessive’ government spending


Please enter your comment!
Please enter your name here