|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||44.43 - 45.55|
|52 Week Range||38.13 - 62.83|
|Beta (3Y Monthly)||1.78|
|PE Ratio (TTM)||7.43|
|Earnings Date||Jul 31, 2019|
|Forward Dividend & Yield||3.02 (6.36%)|
|1y Target Est||61.49|
Indian stocks zoomed to a record and the rupee and sovereign bonds climbed after exit polls signaled Prime Minister Narendra Modi’s ruling coalition is poised to retain power. The S&P BSE Sensex rallied 3.8% to a new high, its second in over a month, as exit polls predicted a comfortable majority for the Bharatiya Janata Party and its allies. A gauge of stock-market volatility slumped, the rupee rose the most since December and the yield on benchmark 2029 bonds slid eight basis points.
Barclays, Citigroup, Royal Bank of Scotland, JPMorgan and Japan’s MUFG have been fined more than €1bn by the EU’s competition watchdog for rigging the multitrillion-dollar foreign exchange market after the last financial crash. The EU probe identified two separate cartels of traders — dubbed the “Three Way Banana Split” and “Essex Express” — that used online chat rooms to share information about customers’ orders, prices and other trading activities in order to manipulate the spot currency markets. Most of the traders knew each other on a personal basis, according to the European Commission, also using other chat rooms such as the “Semi-Grumpy Old Men”.
BNP Paribas said on Wednesday it hired Dominique Toublan as its chief U.S. credit strategist, who will be based in New York and report to Rich Edelman, the bank's head of credit trading desk analysts in the Americas. Prior to joining BNP, Toublan was a credit derivatives strategist at J.P. Morgan's investment-grade strategy team. BNP also said it appointed Reena Patel as senior credit trading desk analyst with a focus on investment-grade healthcare and technology, media and telecom (TMT) sectors.
Credit Agricole SA posted bigger-than-expected declines in profit and revenue in the first quarter as weakness at its key Italian business overshadowed resilient trading income. Underlying revenue in Italy, Credit Agricole’s second-biggest retail market, declined 3.9% as volatile markets weighed on fees. Chief Executive Officer Philippe Brassac has targeted consumer banking in the country as an area of growth as he reorganized the bank’s structure over the past four years and sold less strategic holdings.
Crédit Agricole’s profits came in below expectations in the first quarter, despite a better than forecast performance in its investment banking arm, sending shares down as investors turned their eyes towards a strategy update due in June. The French mutual bank saw shares in its listed vehicle fall close to 3.6 per cent by midday in Paris on Wednesday after it reported net profit of €763m, below a consensus estimate of €820m and 10.9 per cent down on the same period last year. The miss by Crédit Agricole was, said analysts at Citi, “mainly due to higher costs and higher taxes, with revenues broadly in-line and better provisions”.
BNP Paribas Asset Management, the asset management arm of the French bank, on Tuesday named Rob Gambi as global head of investments, based in London. Gambi, an asset management veteran with three decades ...
Futures in New York were little-changed for the day but finished the week off by 0.5 percent. The world’s two biggest economies wrapped up high-level talks in Washington without a deal, but they avoided a complete breakdown in negotiations despite U.S. President Donald Trump’s decision to raise tariffs on $200 billion in Chinese exports. Tensions continued to rise this week between the U.S. and Iran, with Washington dispatching an aircraft carrier group to the Middle East, and the U.S. threatened more sanctions against fellow OPEC member Venezuela amid political strife there.
After six years of scrutiny, billions of dollars in fines and a flurry of criminal lawsuits, the world’s biggest currency-dealing banks are finally close to drawing a line under global regulatory investigations into the behaviour of their traders, as the EU prepares to announce the results of its probes. Brussels’ findings, and potential fines, are due to land this month, several people familiar with the matter said. UBS, Royal Bank of Scotland, JPMorgan Chase, Citigroup, Barclays and HSBC, each of which began negotiating a settlement with the EU in 2017, are in the spotlight.
Barclays, Citigroup , HSBC, JPMorgan and three other banks are set to be fined by EU antitrust regulators in the coming weeks for rigging the multitrillion dollar foreign exchange market, two people familiar with the matter said. The other three lenders are Royal Bank of Scotland, UBS and a small Japanese bank, the people said.
Societe Generale SA got some relief from its key equities business and stronger capital levels in a quarter that prolonged the slump in its investment banking unit. The diverging results show the challenge for Chief Executive Officer Frederic Oudea, who is facing a crucial shareholder vote this month on a new term. Oudea, the longest-serving CEO of a top European bank, is cutting 1,600 jobs after he had to give up his main mid-term targets for growth and profitability.
Delta Air Lines, The Financial Times and Bain & Co have pulled out of an event in New York honoring Brazilian President Jair Bolsonaro, the firms said on Thursday, as the South American leader faces blowback for racist and homophobic comments. Bolsonaro is due to be honored as the 2019 Person of the Year at the Brazilian-American Chamber of Commerce dinner. The gala, which already had to move from its original venue at New York's American Museum of Natural History after the museum decided not to host, is sponsored by various blue-chip firms, which have come under pressure to ditch their support of the event.
BNP Paribas SA surprised investors with a rebound in its fixed-income trading business, beating all its European and U.S. peers. Chief Executive Officer Jean-Laurent Bonnafe, who wants to create a European champion able to compete with stronger U.S. banks, has been cutting costs and exiting businesses after being forced to cut 2020 targets and announcing 600 million euros in additional cost cuts because of a trading slump. BNP has shut down its proprietary trading unit and U.S. commodity derivatives activities as part of the measures.
After a torrid end to 2018 across its markets activities, BNP upstaged rivals in the first three months of this year with a surprising 29 percent jump in revenue from dealing in bonds and foreign exchange. Overall, the corporate and institutional banking division — which includes trading, capital markets and custody — helped drive the group’s revenue growth of 3.2 percent. The lender is cutting costs across the investment bank, while trying to improve cross-selling to clients, doing more of its high-volume business electronically and targeting select work with the juiciest margins.
BNP Paribas on Thursday reported higher first-quarter net profits, supported by a recovery at its corporate and investment banking division which benefited from a more favourable market environment. Revenue from fixed income, commodities and currencies were up 32 percent from the first quarter 2018, a stronger performance than at some other big investment banks, such as Credit Suisse and Goldman Sachs. "Corporate and institutional banking marked an upturn in client activity despite a still unfavourable market context at the beginning of the quarter," Chief Executive Jean-Laurent Bonnafe said in a video on BNP Paribas' website.
PARIS , May 2, 2019 /PRNewswire/ -- BNP Paribas, one of Europe's largest banks, reports 2019 first quarter results. CEO Jean-Laurent Bonnafé comments on the Group's results. Watch video interview and read ...
U.S. and international oil prices ended Monday’s trading session little changed from where they began the day. While London futures settled lower, the West Texas Intermediate contract traded in New York posted a small gain. U.S. exemptions that allowed China and several other major buyers to purchase Iranian oil will expire May 2, cutting off supplies from OPEC’s No. 4 producer.
European shares closed marginally higher on Monday led by gains for Banco Santander, as investors chose to focus on the positives of a weekend win for Prime Minister Pedro Sanchez's ruling socialists in Spain's third election in four years. Sanchez's pro-European PSOE won Sunday's election, but was short of a parliamentary majority, meaning it will need the help of regional parties, or the centre-right, to form a coalition government. Jitters around the result of the poll, added to weak euro zone economic sentiment data, had pushed markets lower in morning trade in Europe.
Global stocks rose on Friday after JP Morgan's results kicked off the U.S. corporate earnings season in style, while signs of stabilization in China's economy also helped riskier assets amid talk that the growth outlook worldwide is better than thought. Chinese data showed exports rebounded in March, lifting U.S. and euro zone bond yields to three-week highs and helping offset weaker imports and reports of another cut to German growth forecasts.