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 [...]
Jon Corzine, the CEO of bankrupt broker MF Global Holdings, resigned Friday, four days after the bankruptcy of the group, including its paris cast of European sovereign debt. Jon Corzine, 64, had led Goldman Sachs from 1994 to 1999 before turning to a political career that led him to the Senate and for governor of [...]
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 [...]
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 [...]
Fitch remains concerned about the situation in Greece, despite the decisions taken at the EU summit. The rating agency recommends that the ECB will continue its buybacks of debt of troubled countries in the euro area. Agencies begin to react toannouncements of the European Summit of 26 October . Fitch welcomes the commitments made by Heads [...]
After Greece, Ireland and Portugal, a support plan for Italy, the third Euro-zone economy, would no longer be taboo! For now, information is always denied by all the protagonists, who see it more leverage to force Rome to accelerate its reforms … Last night, the Italian Prime Minister Silvio Berlusconi attended an Extraordinary Council of Ministers [...]
Francois Fillon said Tuesday at the National Assembly that French banks will need, without public aid, to increase their equity capital of about “ten billion” as part of a recapitalization of the European banking sector. “The recapitalization of banks will be in an orderly manner, on all the European banks that need it,” said the [...]
Baudouin Prot, CEO of BNP Paribas, has accepted an interview with business daily Handelsblatt Germany, before the communication service of the bank simply refuses its publication. In response, the newspaper decided to publish the interview without answers. A strategy that made the buzz, and is a good lesson to resistance power of communication in our blogger associated [...]
PARIS (Reuters) – Financial stocks are among the strongest Monday sectoral declines in Europe, sealed by the accumulation of bad news on the crisis of sovereign debt in the eurozone. Greece has confirmed that it will fail to reduce its public deficit as required by its lenders, while the finance ministers of the Eurogroup will meet [...]
As European politicians opposing the idea of issuing Eurobonds to respond to the crisis of sovereign debt, China could affect their development. Europe is the first export market of China, which has clearly said he was in his interest to avoid a financial collapse that could cause a global recession. China also wants to diversify [...]
