The banking sector had been particularly abused, leads upward to the Paris Stock Exchange, taking advantage of cheap takeovers. Societe Generale (7.63% to 18.88 euros) topped the highest increases in the CAC 40. The group reported before trading a net profit , down nearly 31% to 622 million euros, but above expectations. The bank states that it has a [...]
Societe Generale has resolutely focused on strengthening its capital by announcing Tuesday that it will not distribute dividend for its 2011 fiscal year, a first since the privatization of the French bank that markets welcomed. “The challenge for this quarter was to show that we were able to accelerate to get ready (to) go to” [...]
Suspended in the evolution of the political situation in Italy, in the dark about the future government of national unity in Greece and stalled on reform of the fund to support the euro, the European Ministers of Finance Tuesday struggled to maintain a united front on the support to banks. While the Heads of State [...]
Twenty-nine large internationally active banks, including four French, will significantly increase their capital by 2019 because of the risk that their size or complexity would influence the international financial system if they were in trouble. BNP Paribas, Credit Agricole, Societe Generale and BPCE (People’s Bank, Savings Bank) are among the 29 financial institutions surveyed by [...]
The Frankfurt Stock Exchange ended up sharply Thursday, positively surprised by lower interest rates by the European Central Bank (ECB), but was nervous waiting for information from the G20 in Cannes. The index has been featured Dax 2.81% to 6,133.18 points and the average values MDAX closed up 3.17% to 9136.05 points. German financial stocks [...]
The European Central Bank (ECB), against all odds, cut interest rates a quarter point Thursday, saying its new president that the eurozone could enter a recession “moderate” in late 2011 . Mario Draghi took office Tuesday, right in the maelstrom of the euro area with the return to the front of the stage of the [...]
BNP Paribas, which has sold since late June for more than 10 billion public debt Italy and Spain, expressed regret Thursday that European regulators require banks to value now sovereign debt at a price of market, the risk of exacerbating the crisis in the euro area. Like other French banks, BNP Paribas was the target [...]
The Central Bank of the United States (Fed) was held Wednesday in Washington, where it should confirm to the mid-day the course of monetary policy accommodative ultra-before released new economic forecasts for the country lowered. The Monetary Policy Committee of the Fed (FOMC) should publish a statement around 12:30 pm reporting of its decisions after two [...]
Prime Minister Francois Fillon said Wednesday the roadmap of the new building, with no official capital, capital of French banks, encouraging them to avoid slowing down the distribution of credit and significantly reduce the amount of bonuses for 2011 . The meeting at Matignon key industry leaders followed the Europe Agreement of 27 October, which [...]
French banks will have details on Dec. 15, to the supervisory authority, the measures to reach the hard capital ratio of 9% set by the Europe Agreement of 27 October on the rescue of Greece, announced Wednesday the Prime Minister. Which also support the Minister of Economy, Baroin, to monitor the changes in outstanding bank [...]
