Assicurazioni Generali

Assicurazioni Generali plans to close its Aachen, Nuremberg and Stuttgart sites by the end of 2030 and cut 800 positions in Germany. Five regional centres are to be created in Munich, Cologne, Karlsruhe, Hamburg and Saarbrücken, while the Frankfurt, Leipzig and Berlin sites will be retained. Management intends to negotiate with the group works council and to carry out the reductions mainly through voluntary departures, retirement and natural attrition, while selectively hiring new specialists. Generali’s German workforce numbers around 9,100 people; the share price traded about 1.3 percent lower at 41.77 euros at one point. » More on finanzen.net

Generali has signaled its willingness to consider a takeover offer from Monte dei Paschi di Siena (MPS) worth $10.2 billion for Banca Generali. Generali holds 50.1% of Banca Generali and must approve any transaction; the offer was unsolicited and will be examined for its implications. MPS had submitted a joint proposal for Banca Generali and Banco BPM; shares of MPS and Banca Generali rose slightly in early trading. » More on de.investing.com

JPMorgan raised its price target for Assicurazioni Generali from €44 to €46 but cut its recommendation from "Overweight" to "Neutral" following the strong share price increase. Analyst Farooq Hanif said the downgrade reflects that management’s positive work is now largely priced in and that opportunities and risks now appear balanced. » More on finanzen.net