Markets positive on UniCredit despite surge in loan loss provisions

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Markets positive on UniCredit despite surge in loan loss provisions

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General view of the Unicredit Tower, Milan, Italy, April 09 2020. (Photo by Mairo Cinquetti/NurPhoto) | Mairo Cinquetti/NurPhoto/PA Images

Analysts have praised UniCredit for taking a conservative approach to dealing with the coronavirus pandemic, after the Italian bank said on Wednesday that it would be making higher loan losses provisions in the first quarter than had been expected by the market.

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