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BNP Paribas posts profit slump

Agence France-PresseMay 3, 2013 12:04
The biggest French bank, BNP Paribas, on Friday said net profit slid by 44.8 percent in the first quarter hit by poor investment bank revenue and a sluggish economy in Europe. In the January to March period net profit fell to 1.59 billion euros ($2.06 billion), but beat analyst expectations of a 1.4-billion-euro after tax profit. Retail banking held up well over the period, the bank said, but the investment and corporate banking unit suffered badly, with revenue down 21 percent.

BOJ's new stimulus measures to boost Nikkei more, drag yen - Reuters poll

April 11, 2013 04:30
By Dominic Lau and Tomo Uetake TOKYO (Reuters) - The Bank of Japan's massive stimulus to pull the economy out of two decades of malaise has altered the outlook for Japanese assets, according to a Reuters snap poll of analysts conducted after the central bank shocked markets with its radical shift in policy.

REFILE-Belgian prosecutors seek trial of ex-Fortis directors

February 20, 2013 14:45
(Removes extra characters) * Fortis was bailed out and carved up in 2008 * Prosecutors say directors misled shareholders, markets BRUSSELS, Feb 20 (Reuters) - Belgian prosecutors have concluded that seven former directors of Fortis should face trial for allegedly misleading investors during the Belgian-Dutch bank's purchase of part of Dutch lender ABN AMRO and before its 2008 collapse.

European shares slip, led by utilities and banks

February 15, 2013 13:00
LONDON, Feb 15 (Reuters) - European shares nudged lower on Friday, held back by weak utilities and banks, though strategists reckoned that any dips in the equity markets should be seen as a buying opportunity. The STOXX Europe 600 Utilities Index and the Banks index were both among the worst performing European sectors, off 0.6 percent. Utilities were knocked by a 3.3 percent drop in Spanish power company Iberdrola, which traders attributed to signs that lender Bankia might be looking to sell its stake in the company.

BNP Paribas reports 8.3% profit rise in 2012

February 14, 2013 14:43
Leading French bank BNP Paribas reported on Thursday an 8.3-percent rise in net profit last year to 6.55 billion euros ($8.76 billion), falling short of expectations owing to exceptional items but doing better than most of its rivals. The outcome in the fourth quarter of a net profit of 514 million euros fell far short of a figure of 969 million euros broadly expected by analysts polled by Dow Jones Newswires. In the last quarter, the bank made writedowns for its Italian branch BNL to reflect Italian requirements for an increase in capital.

GLOBAL MARKETS-Euro, shares recover as European worries recede

February 5, 2013 05:00
* Euro lifted by above-forecast euro zone services data * European shares rebound from Monday's sharp sell-off * Brent crude close to $116 a barrel, gold flat By Richard Hubbard LONDON, Feb 5 (Reuters) - European shares, oil and the euro bounced back on Tuesday from a selloff caused by rising political risks in southern Europe, as data confirmed the region's economy is showing signs of recovery.

European shares edge up; travel & leisure sector leads

January 29, 2013 05:15
LONDON, Jan 29 (Reuters) - European shares edged higher to trade near two-year highs on Tuesday, with improving macroeconomic conditions and strong earnings improving sentiment, although technical factors could limit gains in the near term. At 0811 GMT, the FTSEurofirst 300 index was 0.2 percent higher at 1,174.78 points after hitting a 23-month high in the previous session. The euro zone's blue-chip Euro STOXX 50 index was 0.1 percent higher at 2,745.62 points.

European shares flat, hampered by French telecoms

January 22, 2013 13:00
LONDON, Jan 22 (Reuters) - European shares ended flat on Tuesday, after a choppy session, as the prospect of price war in the French telecom sector balanced signs of economic improvement in Germany. France Telecom, Vivendi and Bouygues shed between 4.6 percent and 3.9 percent after the head of Vivendi's SFR mobile operator said it was cutting prices by as much as 25 percent.
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