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Wednesday, 16 November 2016

Plunging UniCredit shares push Ipic into first half loss | The National

Plunging UniCredit shares push Ipic into first half loss | The National:
"International Petroleum Investment Company (Ipic), which is merging with Abu Dhabi investment fund Mubadala Development, swung to a first-half loss because of the plunge in shares of Italian lender UniCredit, in which it holds a 5 per cent stake.

Net loss attributable to equity owners stood at US$257.5 million compared with a net profit of $1.07 billion a year earlier, according to the Abu Dhabi investment company’s financial results released today.


Revenue fell by 13.8 per cent to $16bn from $18.67bn a year earlier."

'via Blog this'