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Crédit Agricole S.A. shares rose 1.2% to $8.33, with trading volume increasing by 49% to approximately 511,893 shares. The company reported earnings of $0.29 per share, surpassing estimates, and has a market capitalization of $50.41 billion, with a P/E ratio of 7.37. Despite a Hold rating from analysts, other stocks are being recommended as better investment options.
As of December 31, 2023, CA Personal Finance & Mobility managed €113 billion in credit. The company has finalized a joint venture with GAC Group, acquiring 50% of GAC Finance Leasing to enhance electric vehicle leasing solutions in China, where electric vehicles constitute 60% of their leasing contracts. This partnership, established in 2009, aims to support the growing electric vehicle market in China, leveraging GAC Group's significant automotive presence.
Banco BPM SpA saw a significant rise in Milan trading after Credit Agricole SA increased its stake in the bank, which is Italy's third-largest. The stock climbed as much as 3.9%, reaching its highest point in over eight years, and boosting the bank's market value to €11.6 billion ($12.3 billion). In contrast, UniCredit's shares fell by 1.1%.
Credit Agricole SA is increasing its stake in Banco BPM from 9% to approximately 15% to safeguard its interests in Italy following UniCredit SpA's takeover bid for the bank. This move strengthens CEO Philippe Brassac's negotiating position with both Banco BPM and UniCredit, crucial for revenue generation in the region.
Credit Agricole SA has increased its stake in Banco BPM SpA to 15.1% amid a takeover bid from UniCredit SpA. The French bank acquired financial instruments to secure an additional 5.2% stake and plans to settle these trades once it receives the necessary approval, while clarifying it does not intend to launch a tender offer for Banco BPM shares.
UBS has raised its price target for Crédit Agricole to €15.5, citing a stable outlook and attractive earnings mix. The bank reported a 10.9% increase in underlying net income to €1.69 billion for Q3 2024, despite slightly missing forecasts due to challenges in the insurance and corporate divisions.
UBS has raised its price target for Crédit Agricole to €15.5, citing a stable outlook and attractive earnings mix. Despite slightly below-forecast third-quarter results, the bank reported a 10.9% increase in underlying net income to €1.69 billion, with gross operating income up 5.5% to €2.83 billion.
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