Unicredit - Positive Catalyst Watch; Bridgepoint - Upbeat Management to Sales; Market Intel

Research evidence excerpt

Unicredit - Positive Catalyst Watch; Bridgepoint - Upbeat Management to Sales; Market Intel

Gigi Sparling - Specialist Sales - European Financials AC (44-20) 7134-0355 Europe Specialist Sales J P M O R G A Nghislaine.sparling@jpmorgan.com

J.P. Morgan Securities plc 02 July 2026

Unicredit - Positive Catalyst Watch; Bridgepoint - Upbeat Management to

Sales; Market Intel

Gigi Sparling

+44 207 134 0355

ghislaine.sparling@jpmorgan.com

Today: Non-Farm payrolls (1.30pm)

5 Key Highlights Today:

1. UNICREDIT: Placing on Positive Catalyst Watch.

2. BRIDGEPOINT: Upbeat management to sales.

3. Non Farm Payrolls: Scenario Analysis by Market Intelligence

4. Invite: Feedback calls with Sheel on UK domestic and Irish Banks - Please let me know if you’d like to speak with him

today/tomorrow

5. Upcoming J.P. Morgan Events: French Financials Tour July 6th, Greek Banks tour also July 6th. Do let me know if

you’d like further details on any of these.

Use the links below to jump straight to each section:

The Detailed Highlights

Post results, Newswires & Away from Us

Global Financials wrap, Trading Recap and Colour

Global Financials Research Links

Global Macro Research Links

Save the Date: J.P. Morgan Events

J.P. Morgan Financials Contacts

UNICREDIT: Placing on Positive Catalyst Watch. Ahead of Q2 results, Delphine upgrades her EPS by 4-5% in 2027-28e,

mainly driven by higher revenues - better trends in fees & commissions, Generali dividends with our higher NII also reflecting

rate hikes (June and Sept). Our 2026e EPS is broadly unchanged due to the negative impact from hedging costs on strategic stakes

in Q2, and some small additional restructuring charges and litigation provisions. For Q2, we expect strong commercial