European shares closed higher following some better-than-expected earnings reports, and upbeat manufacturing data from German.» Read More
European shares closed higher following some better-than-expected earnings reports, and upbeat manufacturing data from German.
LONDON, May 7- HSBC reported a near doubling in first quarter earnings on Tuesday, demonstrating the benefits of a three-year restructuring, cost cuts and a big drop in bad debt charges.
Shares in Commerzbank, Societe Generale, Natixis. Commerzbank is up 3.4 percent, SocGen up 4.2 percent, Natixis up 1.8 percent and Credit Agricole up 0.9 percent, outperforming the euro zone's blue chip Euro STOXX 50 index which is flat.
France's No. 2 listed bank is to cut 900 million euros in costs over the next three years after a weak domestic economy and one-off charges halved quarterly earnings.
*HSBC, SocGen, Credit Agricole, Commerzbank report Q1. *HSBC profit seen up 87 pct to $8.1 bln. LONDON/ PARIS, May 7- HSBC is expected to almost double first quarter profits to about $8 billion on Tuesday helped by a fall in costs and bad debts and showing the benefits of a three-year restructuring that is nearly complete.
ADECCO SA Q1 ALSTOM SA FINAL CREDIT AGRICOLE SA Q1 CARLSBERG A/S Q1 COMMERZBANK AG Q1 ENDESA SA Q1 ENEL SPA Q1 EUTELSAT COMMUNICATIONS SA Q3 SALES GAS NATURAL SDG SA Q1 GJENSIDIGE FORSIKRING ASA Q1 HANNOVER RUECK SE Q1 HSBC HOLDINGS PLC Q1 TRADE LAFARGE SA Q1 LEGRAND SA Q1 LUNDIN PETROLEUM AB Q1 MUNICH RE Q1 SKANSKA AB Q1 SOCIETE GENERALE Q1 MAJOR U.S.
LONDON, May 1- French bank Credit Agricole. cleared the final hurdle to exit the British gas market when energy regulator Ofgem on Wednesday approved the bank's request to cancel its UK gas trading licence. Deutsche Bank, Goldman Sachs, Barclays Capital and Morgan Stanley are all winding down trading activity.
Peugeot and U.S. peer General Motors GM.N are studying an alliance to market vans outside of Europe that would allow the French car maker to boost sales volumes and reap royalty revenues, according to Les Echos newspaper. FRANCE TELECOM France's industry minister said he had blocked Yahoo Inc's. Dailymotion is owned by France Telecom.
ATHENS, May 1- Greece's third-biggest lender, Alpha Bank, said on Wednesday it found enough investors to back its recapitalisation plan, thus avoiding falling under state control as part of the country's international bailout.
LONDON, May 1- French bank Credit Agricole. The so-called gas shipper licence, needed by anyone who trades gas in Britain, will become invalid on May 30, Ofgem added. Deutsche Bank, Goldman Sachs, Barclays Capital and Morgan Stanley are all winding down trading activity.
Journalists seem to be outnumbering Cypriots standing in lines at banks in Nicosia. That's good news, right?
There is serious damage accumulating in European banks, yet at least for today, Cyprus isn't all to blame.
The chairman of CITIC Securities is busy remodeling China's biggest brokerage after Goldman by expanding into asset management, trading complex derivatives instruments and nurturing overseas deals.
European shares finished lower Monday, after comments from the head of the Eurogroup who said a Cyprus bailout deal could be a new template for resolving euro zone banking problems.
Mike Mayo is now trying to get back in—by buying up shares in bank stocks, an effort to gain entre to key investor meetings usually closed off to analysts.
U.S. stock index futures briefly dipped Wednesday following a weaker-than-expected housing starts report, but rebounded into positive territory ahead of the minutes from the Federal Reserve's latest meeting and a day after all three major averages closed at fresh multi-year highs,
Credit Agricole posted a 6.5 billion-euro ($8.68 billion) full-year loss - the worst since the French bank went public in 2001 - as taxes on the sale of its Greek unit pushed the bank even deeper into the red than expected.
French bank Societe Generale has named a new chief financial officer and reshuffled its management team after swinging to a loss in the fourth quarter on the back of a weak euro zone economy and one-off charges.
Monte dei Paschi pumped up its bid for Antonveneta to trump a rival offer from France's BNP Paribas, paving the way for an eventual state bailout of the world's oldest bank.
European shares inched up on Friday, as investors took advantage of the past two sessions' losses to snap up equities more cheaply, reassured by a run of solid data from China, Europe and the United States.