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Societe Generale

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  • By Marc Jones and Aimee Donnellan. LONDON, Oct 8- The European Central Bank will end its second covered bond purchase programme at the start of November as planned, euro zone monetary sources say, despite having spent less than half the money set aside for it.

  • Despite a 22 percent recovery rally since early June, nearly half of euro zone blue chips making up the Euro STOXX 50 index still trade at less than their book value, with banks featuring among Europe's cheapest stocks. Nineteen out of 50 stocks listed in the index trade at a price-to-book ratio of less than 1.00, with Societe Generale at 0.39, UniCredit.

  • ATHENS, Oct 5- National Bank of Greece made a share-swap offer to buy all of rival Eurobank and create the country's biggest lender, it said on Friday, the latest move in efforts to consolidate the Greek banking industry.

  • NEW YORK, Oct 5- U.S. The U.S. Labor Department said the unemployment rate fell to a four-year low of 7.8 percent in September, down from 8.1 percent in August, as 114,000 jobs were added. "The big shock was the drop in the rate, the consensus number was right in line," said Sean Murphy, a Treasuries trader at Societe Generale in New York.

  • NEW YORK, Oct 5- U.S. The U.S. Labor Department said the unemployment rate fell to a four-year low of 7.8 percent in September, down from 8.1 percent in August, as 114,000 jobs were added. "The big shock was the drop in the rate, the consensus number was right in line," said Sean Murphy, a Treasuries trader at Societe Generale in New York.

  • By George Georgiopoulos and Lefteris Papadimas. ATHENS, Oct 5- National Bank of Greece and Eurobank are in merger talks to create the country's biggest lender, banking sources said on Friday, the latest move in efforts to consolidate the Greek banking industry.

  • TEXT-Fitch affirms three Czech banks Friday, 5 Oct 2012 | 11:08 AM ET

    Oct 5- Fitch Ratings has affirmed Ceska Sporitelna and Komercni Banka's. CS's Long-term IDR is equalised with that of its 98% shareholder, Erste Group Bank AG, reflecting what Fitch views as an extremely high propensity to provide support to CS. KB's Long-term IDR is driven by potential support from its majority shareholder, Societe Generale.

  • *Merger would form Greece's biggest lender* Shares suspended pending announcements* NBG, Eurobank hold board meetings By George Georgiopoulos and Lefteris Papadimas.

  • Technip leads European share rebound in thin trade Friday, 5 Oct 2012 | 8:08 AM ET

    *Technip rises 2.5 pct after Mexico contract win. LONDON, Oct 5- European shares rose in thin trade on Friday as investors bought into recent dips, with F rench oil services firm Technip.

  • ATHENS, Oct 5- Two of Greece's biggest banks, National and Eurobank, are in merger talks to create the country's biggest lender, banking sources said on Friday.

  • LONDON, Oct 5- Spain's Telefonica and Italy's Mediobanca, encouraged by a sell-out deal from Spanish bank BBVA in the dollar market overnight, took advantage of more stable market conditions to bring new euro bonds on Friday.

  • ATHENS, Oct 5- Two of Greece's biggest banks, National Bank and Eurobank are in talks on a merger that would create the country's biggest lender, banking sources told Reuters on Friday. Greece's banks are under pressure to consolidate after deep losses from the country's debt restructuring, plus deposit outflows and rising bad loans.

  • US investors swamp BBVA as periphery regains favour Friday, 5 Oct 2012 | 4:18 AM ET

    LONDON, Oct 5- In a startling change of fortune, Spain's BBVA was swamped with USD7.5bn of demand for a USD2bn three-year Yankee bond yesterday, the first time US investors have shown interest in buying Spanish financial risk in more than 17 months.

  • ATHENS, Oct 5- Two of Greece's biggest banks, National Bank and Eurobank, are in talks over a merger that would create the country's biggest lender, news website To Vima reported on Friday, citing sources.

  • New Issue-VTB Captial sells $1.5 bln in notes Friday, 5 Oct 2012 | 12:42 AM ET

    Oct 5- VTB Captial SA. on Thursday sold $1.5 billion of subordinated notes in the 144 a private placement market, said IFR, a Thomson Reuters service. Barclays Capital, Bank of America Merrill Lynch, Societe Generale and VTB Capital were the joint bookrunning managers for the sale.

  • "It's pretty clear to us that the market is now open to buying these kinds of bank names," said Paul Spivack, managing director and head of Morgan Stanley's debt syndicate for the Americas. Morgan Stanley led the BBVA deal along with Bank of America Merrill Lynch.

  • New Issue-Societe Generale SA sells $1.25 bln in notes Thursday, 4 Oct 2012 | 4:38 PM ET

    ,guaranteed by Societe Generale, NY Branch, on Thursday sold $1.25 billion of senior unsecured notes, said IFR, a Thomson Reuters service. SG Americas Securities, Citigroup and Credit Suisse were the joint bookrunning managers for the sale.

  • By Claire Ruckin and Owen Sanderson. LONDON, Oct 4- Spain's Banco Santander is selling a loan portfolio of up to 2.5 billion euros to Bank of America Merrill Lynch, banking sources said on Thursday.

  • *Bank of France lent more than 2 bln eur- source. *Bank of France says doesn't comment on liquidity assistance. PARIS, Oct 4- French mortgage bank Credit Immobilier de France was benefiting from emergency Bank of France funding to keep it afloat months before a high-profile government rescue, banking sources told Reuters.

  • CIF received emergency funds before rescue-sources Thursday, 4 Oct 2012 | 9:39 AM ET

    PARIS, Oct 4- French mortgage bank Credit Immobilier de France was benefiting from emergency Bank of France funding to keep it afloat months before a high-profile government rescue, banking sources told Reuters. "The exact number is unclear but it was more than 2 billion euros." The Bank of France said it never comments on details of liquidity assistance.