PARIS, Sept 23 (Reuters) – French insurer AXA (AXAF.PA: Quote, Profile, Research) is
exploring a possible sale of its private equity unit and has
hired Credit Suisse (CSGN.VX: Quote, Profile, Research) to handle it, sources familiar
with the situation said on Friday.
“It’s just gotten underway,” one of the sources said of the
auction, while another called the sale an option being explored
that would not definitively happen.
PARIS, Aug 19 (Reuters) – European banking shares swooned to
their lowest level in nearly 29 months on Friday, led by Italy’s
Intesa SanPaolo on concern about the lenders’ ability
to fund themselves amid a worsening economic slowdown.
Intesa tumbled 6 percent, while Raiffeisen Bank
dropped 5 percent and Societe Generale and UniCredit
— among top decliners in recent sessions — also
sank, down 3.3 percent and 4.2 percent respectively.
PARIS (Reuters) – Shares of Societe Generale plunged as much as 23 percent amid a whirlwind of rumours questioning its financial solidity, before closing 15 percent lower after the French bank denied all speculation about its health.
Rumours of a downgrade of French sovereign debt, an expanded bailout for Greece that would hurt French banks and a government bailout of SocGen due to liquidity problems — all denied — pulled shares of France’s second-largest bank down in the heaviest volume since the 2008 financial crisis.
LONDON/PARIS (Reuters) – Shares in French bank Societe Generale (SOGN.PA: Quote, Profile, Research, Stock Buzz) fell more than 21 percent on a whirlwind of market rumors, before a spokeswoman categorically denied all rumors relating to the bank’s financial solidity.
“SocGen categorically denies all the market rumors,” the bank spokeswoman told Reuters.
PARIS, July 29 (Reuters) – French power specialist Schneider
Electric said full-year core margin would be at the
bottom end of previous targets after raw material prices had a
higher than expected impact on first-half results.
Coming a day after its domestic rival Legrand said price
increases had allowed it to protect margins, Schneider’s news
prompted a sharp drop in its shares. After being briefly halted
limit-down at the start of trade, the stock was down 2.9 percent
by 0843 GMT.
PARIS, July 28 (Reuters) – French bank Credit Agricole
said an expected loss at its Emporiki (CBGr.AT: Quote, Profile, Research, Stock Buzz) unit
and its participation in the EU Greek rescue plan, would force
it to take a second-quarter provision of up to 850 million euros
For France’s third-largest bank, which is majority owned by
a network of cooperative regional banks, the Greek crisis is the
latest in a series of recent missteps, which also saw a
disastrous foray into investment banking.
PARIS, July 28 (Reuters) – France’s Lafarge (LAFP.PA: Quote, Profile, Research, Stock Buzz), the
world’s largest cement maker, said second-quarter operating
income fell 16 percent, missing analysts’ forecasts, as higher
raw material costs took their toll.
Lafarge, which recently entered into exclusive talks to sell
its European and South American plaster assets as part of a
wider debt reduction plan, has struggled to push through price
hikes to compensate for higher raw materials prices.
PARIS (Reuters) – French luxury goods and retail group PPR (PRTP.PA: Quote, Profile, Research, Stock Buzz) is considering buying family-owned Italian tailor Brioni for about 350 million euros ($508.4 million), two sources familiar with the situation said on Wednesday.
The deal, if it goes ahead, would allow PPR to make further progress on its pledge to get out of retail and recentre on luxury and sports brands.
PARIS, July 27 (Reuters) – French luxury goods and retail
group PPR (PRTP.PA: Quote, Profile, Research, Stock Buzz) is considering buying family-owned Italian
tailor Brioni for about 350 million euros ($508.4 million), two
sources familiar with the situation said on Wednesday.
The deal, if it goes ahead, would allow PPR to make further
progress on its pledge to get out of retail and recentre on
luxury and sports brands.
PARIS, July 26 (Reuters) – France’s biggest broadcaster TF1
reported a stronger than expected 79 percent rise in
first-half operating profit as programming costs fell and group
advertising revenue rose.
Shares in TF1 jumped seven percent in early trading after
the company said operating profit climbed to 186.5 million euros
($267.5 million) and first half advertising revenue rose 4.7
percent to 905.2 million euros, helped by its digital
free-to-air channel TMC and Internet activities.