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5/18/2013, 1:10 PM ET

Quote & Headlines Market Currents StockTalk

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Friday, January 18, 12:31 PM Crisis over? BNP Paribas and Societe Generale could begin repaying their ECB LTRO loans within weeks, reports Bloomberg. With the easing of financial pressure, the banks have been able to raise money the old-fashioned way at rates comparable to what the ECB charges. Comment! [Financials, Global & FX]
Friday, October 26, 2012, 8:36 AM Paris is busily rebounding from S&P's negative rating actions on the French banks overnight. BNP Paribas (BNPQY.PK) was cut to A+ from AA-, while SocGen (SCGLY.PK) and Credit Agricole (CRARY.PK) were given a negative outlook. "The economic risks under which French banks operate have increased in our view." The CAC 40 +0.2% after a near 1% early decline. Comment! [Global & FX, Financials]
Thursday, September 6, 2012, 6:40 PM If shareholders crush the Glen-Xstrata merger tomorrow, the pain will be deep for the 10 investment banks that worked on the deal. BNP Paribas, which advised Glencore, would suffer the steepest fall in the global M&A adviser rankings, sliding from no. 14 to no. 23; BofA (BAC), which wasn’t on the deal, would benefit most, rising from no. 8 to no. 4. Comment! [Financials, M&A]
Friday, June 22, 2012, 8:16 AM "This type of environment makes my job quite easy," says fund manager David Herro, who is "significantly adding" to his stock positions as 580 companies in the MSCI indexes trade for less than the value of their net assets. On the other hand, "safe" health-care and consumer products firms are trading at their highest level in more than 10 years, according to the same gauge. 5 Comments
Thursday, June 21, 2012, 3:36 PM Also somewhat unexpectedly included, according to CNBC, in the list of banks getting cut is one Canadian lender, Royal Bank of Canada (RY -3.7%). Among the European banks touched are Deutsche Bank (DB), BNP Paribas (BNPQY.PK), and Credit Suisse (CS), which recently got a warning from the SNB. 1 Comment [Financials]
Monday, May 14, 2012, 12:14 PM Sam Hocking, global head of prime brokerage sales at BNP Paribas (BNPQY.PK), resigns for personal reasons. He joined BNP in 2008 when the French bank acquired Bank of America's prime brokerage business (prior to BofA getting back into prime brokerage when it bought Merrill Lynch). Comment! [Financials]
Monday, April 2, 2012, 3:57 AM Some of Europe's biggest banks are preparing to pay back some LTRO funds in the next 12 months. The banks, which sources say include UniCredit, BNP Paribas and SocGen, are keen to repay the money as soon as they can - December of this year - even though they have until Dec. 2014 and Feb. 2015. Comment! [Global & FX, Financials]
Thursday, March 8, 2012, 3:42 AM Simon Property (SPG) is buying a 28.7% stake in Klepierre (KLPEF.PK) from BNP Paribas (BNPQY.PK) for €1.5B ($2B), making Simon the biggest shareholder in the French EU mall owner. Simon Property will receive Klepierre's dividend, which will be declared in April. (PR) Comment! [M&A]
Wednesday, February 22, 2012, 10:17 AM Morgan Stanley sees the chance of multiple earnings upgrades for EU banks as the wave of liqudity from ECB's LTRO is stoking action. January was likely the best month for credit trading in 2 years, MS says, and FICC (fixed income, commodity, and currency) revenue could double in Q1 from Q4. Comment! [Global & FX, Financials]
Tuesday, February 21, 2012, 4:30 PM Wells Fargo (WFC) has agreed to buy an energy loan portfolio with a face value of $11B from BNP Paribas (BNOBF.PK). Only $4B of the loans have thus far been drawn by borrowers. The deal is part of a broader effort by BNP to reduce its balance sheet by ~10% by year's end. Many other European banks are also conducting asset sales.(previously) Comment! [Financials]
Friday, February 17, 2012, 11:44 AM BNP Paribas (BNPQY.PK) provides a window into the ECB's LTRO, saying it took advantage of the cheap funding in December, but deposited most of the money right back with the ECB. A bit less scared now, the bank is looking at ways of more usefully deploying it. (earnings earlier) Comment! [Global & FX, Financials]
Wednesday, February 15, 2012, 2:45 AM BNP Paribas (BNPQY.PK) Q4 net income -51% to €765M. Revenue -6.1% to €9.7B. Took a €567M impairment on its Greek sovereign debt, increased its provisions so that 75% of its exposure to Greek debt is now covered, and reduced sovereign debt outstanding by 29%. Declares a dividend of €1.2/share, down from €2.1/share in 2010. Comment! [Global & FX, Financials, Earnings]
Monday, January 30, 2012, 1:22 PM Euro bank stocks were hit hard once again, as a new round of Greek bailout fears triggered a strong selloff. UBS -3.4%. BCS -4.8%. CS -3.5%. STD -3.7%. CRARY.PK -7.4%. BNPQY.PK -7.1%. SCGLY.PK -7.4%. Comment! [Financials, Global & FX, On the Move]
Thursday, January 19, 2012, 8:05 AM Morgan Stanley's non-comprehensive table of EU banks' participation in the ECB's LTRO last month shows Italian and Spanish lenders diving in with both feet, with many more than satisfying their 2012 funding needs. "It is clear that Italian and Spanish mid-caps have no other option than to rely upon the LTRO." Data from French lenders has not yet been obtained. 2 Comments [Global & FX, Financials]
Wednesday, January 18, 2012, 8:50 AM French banks made their funding more robust in 2011 by increasing deposits by €130B ($167B) as part of efforts to bring their funding back on balance sheet, Fitch says. The growth came partially at the expense of European money market funds, which lost €55B. Funding through deposits is treated more favourably under Basel III. Comment! [Global & FX]
Sunday, January 15, 2012, 4:11 AM In addition to the EFSF, the next target in S&P's sights could be beleagured French banks, which have suffered due to their eurozone debt exposure. Still, BNP Paribas (BNPQY.PK) could be spared - for now - as France's downgrade was only one notch, while some analysts played down the affect of further ratings cuts on banks. 1 Comment [Global & FX, Financials]