China posted better-than-expected GDP figures, but economists say there's little evidence of progress in rebalancing its economic growth model.» Read More
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.
The Netherlands has nationalized bank and insurance group SNS Reaal in a $14 billion rescue that highlights the fragility of European banks and the continued exposure of taxpayers five years after the financial crisis erupted.
French bank Credit Agricole warned on Friday that its fourth quarter results would be battered by 3.8 billion euros ($5.16 billion) in charges as the French bank reels from ill-timed acquisitions from before the 2008 financial crisis.
The heads of France's top three banks will face questions on Wednesday from a parliamentary committee looking into proposed reforms designed to curb risky trading and beef up regulatory oversight.
Weak GDP data for the U.K. wasn't enough to stop European shares rising on Friday as Germany's DAX Index reached a level not seen since January 2008 after business climate data was released.
European shares ended mostly flat on Wednesday, bouncing off intraday lows as many investors used the early dip to boost their exposure to equities.
European shares finished in negative territory Monday, but financials helped limit losses after global banking regulators announced a watering down of key elements of their plan for banking rules.
Europe's largest financial institutions, which have been readjusting since the onset of the 2008 financial crash and the sovereign debt crisis that followed, are causing pain all over the globe that will have long term implications, according to analysts. They argue that the situation will only worsen without the proposed European banking union.
European shares closed higher on Wednesday after business confidence data was released in Germany showing an increase.
European shares ended mixed Tuesday amid "fiscal cliff" discussions in the U.S., but losses were limited as EU finance ministers met in Brussels to discuss details of a possible banking union.
Oct 11- Following are terms and conditions. of a bond priced on Thursday.
Oct 11-:* CIBC raises Air Canada target price to C $3 from C $1.50. *CIBC raises Canadian Pacific Railway target price to C $83 from C $82. *CIBC cuts Chorus Aviation target price to C $4 from C $4.50.
RIYADH, Oct 10- Banque Saudi Fransi, the lender part-owned by Credit Agricole, posted a 12.9- percent drop in its third-quarter net profit that missed analysts forecasts, it said in a bourse statement on Wednesday.
NEW YORK, Oct 9- BNP Paribas, making good on its chief executive's promise to expand outside of its troubled European base, has filled a long-vacant senior sales position in its fixed-income business in the United States.
CA's Long- and Short-term IDRs, Support Rating and Support Rating Floor continue to reflect the potential support from France, if required. The Negative Outlook on CA's Long-term IDR reflects that of France's Long-term IDR.
PARIS, Oct 9- France's biggest banks are teaming up with part state-owned insurer CNP to pool their shareholdings in various companies into a fund worth at least 1 billion euros, French daily Le Figaro said on Tuesday.
Oct 8- Credit Agricole SA:. *SocGen raises Credit Agricole price target to 6.1 euros from 5.9. Reuters Station users, click. 1580.
OTTAWA, Oct 5- All but 7 percent of Canada's federally regulated, private defined-benefit pension plans were underfunded at the end of 2011, the government's Office of the Superintendent of Financial Institutions reported on Friday. This has caused some like Air Canada to seek adjustments and concessions.
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.