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Friday, August 28


News

AUD: Store-Of-Value Appeal Unlikely To Wane Anytime Soon; US Elections Key Risk – Credit Agricole

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AUD: Store-Of-Value Appeal Unlikely To Wane Anytime Soon; US Elections Key Risk – Credit Agricole. Credit Agricole CIB Research discusses AUD outlook and targets AUD/USD at 0.71 by end of Q3 and at 0.72 by year-end. “RBA Governor Philip Lowe’s pledge to not take rates into negative territory in a world of negative interest rates has generated a ‘store-of-value’ appeal for Australian government bonds (AGBs).This appeal is unlikely to wane anytime soon,” CACIB notes. The run-up to the US presidential election, as Senator Joe Biden and President Donald Trump vie to sound the toughest on China, could present a challenge for the AUD. If President Trump is reelected, the rally in the USD would weaken AUD/USD,’ CACIB adds. For lots more FX trades from major banks, sign up to eFXplus.

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Thursday, August 20


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Why Credit Agricole Sa could appeal to contrarian value investors

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Why Credit Agricole Sa could appeal to contrarian value investors. In times of economic uncertainty - when stock prices become erratic - good quality stocks can become cheaper. Buying good quality stocks at cheap prices is a tried and trusted stock market strategy - but it isn't always easy to tell the difference between a genuine bargain and a value trap. Finding good quality stocks at cheap prices is a strategy used by some of the world's most successful investors. But be warned: these factors don't guarantee future returns and we've identified some areas of concern with Credit Agricole Sa that you can find out about here.

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Friday, August 07


News

�dit Agricole : Results of Credit Agricole Group for the second quarter and first half of 2020

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Crédit Agricole Group published an underlying net income Group share of €1.8 bn for the second quarter of 2020, down -3.3% compared to the second quarter of 2019, and €2.8 bn for the first half of the year. For Crédit Agricole S.A., the underlying net income Group share reached €1.1 bn for the second quarter of 2020, down -10.9% compared to 2019, and €1.8 bn for the first half of the year. Provisioning increased over this quarter, but this increase was mostly related to the increase in provisioning for performing loans, rising by 50% for Crédit Agricole S.A. and 70% for the Group. 2 bank in terms of Tier 1 capital [1], the solvency of Crédit Agricole improved again, with a phased-in Common Equity Tier 1 ratio at 30 June of 16.1% for the Group and 12.0% for Crédit Agricole S.A., which are both well above SREP requirements and already meet the targets set in the 2022 MTP. Reliability and business reputation of Credit Agricole in Ukraine is confirmed by the highest possible FITCH ratings, leading positions in bank sustainability, bank deposit reliability and bank profitability rankings, as well as by 280 000 active private and 17 000 corporate customers, including international corporations, large Ukrainian companies and representatives of small and medium business.

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Thursday, August 06


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Credit Agricole seeks to reclaim technology it developed with Wirecard

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Credit Agricole seeks to reclaim technology it developed with Wirecard. PARIS (Reuters) - French bank Credit Agricole said on Thursday it will seek to reclaim the payments technology it was working on with Wirecard as part of their partnership. German payments firm Wirecard filed for insolvency in June, owing creditors 4 billion euros (3.62 billion pounds), after disclosing a 1.9 billion-euro hole in its accounts that its auditor, EY, said was the result of a sophisticated global fraud. "By nature, we will reclaim the technology that we have developed ourselves," Credit Agricole Chief Executive Philippe Brassac told a news conference.

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Credit Agricole sees provisions rise as Covid hits big clients, Banking & Finance

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PARIS] Credit Agricole set aside more than expected to cover souring loans for the second quarter after the covid pandemic hit the French lender's retail clients and large corporate customers. Provisions for the three months through June jumped to 842 million euros (S$1.37 million), compared with the 775 million euro estimate of analysts polled by Bloomberg. The lender's capital markets and investment banking division saw revenue climb 38 per cent to 780 million euros, boosted by a 44 per cent increase at the fixed income business. Credit Agricole's giant asset manager, Amundi, saw total outflows of 800 million euros for the second quarter, driven by withdrawals from treasury funds that companies use to park excess cash.

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Credit Agricole second-quarter net income drops 22% as coronavirus provisions weigh

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Credit Agricole second-quarter net income drops 22% as coronavirus provisions weigh. (Reuters) - Credit Agricole SA, France's second-biggest listed bank, reported a 22% drop in quarterly profit on Thursday as it took extra provisions against loans that may sour due to the COVID-19 crisis. Although Credit Agricole's investment bank was the biggest contributor to the increase in provisions, buoyant revenue growth from debt and currency trading, and debt underwriting, helped soften the blow from an economic downturn that hit consumer banking. Net income fell to 954 million euros ($1.13 billion) in the second quarter, while revenue fell by 5% to 4.9 billion euros, broadly in line with a mean analyst estimate, according to IBES data from Refinitiv. The bank said net profit declined mainly due to a spike in the cost of risk, which reflects the amount of new provisions aimed at covering potential payment defaults and which more than doubled to 842 million euros.

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Credit Agricole Q2 net income drops 22% on looming loan losses

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Visit our Privacy Policy to learn more or manage your personal preferences in our Cookie Consent Tool. Credit Agricole Q2 net income drops 22% on looming loan losses. Aug 6 (Reuters) - Credit Agricole SA, France's second-biggest listed bank, reported a 22% drop in quarterly profit on Thursday as it took extra provisions against loans that may sour due to the COVID-19 crisis. Net income fell to 954 million euros ($1.13 billion) in the second quarter, while revenue fell by 5% to 4.9 billion euros, broadly in line with a mean analyst estimate, according to IBES data from Refinitiv.

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Monday, July 27


News

Is the Credit Agricole Sa share price too low?

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Good shares at cheap prices are what the very best investors look for. Research shows that poor quality, expensive shares tend to underperform - but high quality, cheap shares can deliver stunning profits. Good quality stocks are loved by the market because they're more likely to be solid, dependable businesses. A rule of thumb for a reasonable Earnings Yield might be 5%, and the Earnings Yield for Credit Agricole Sa is currently 561,800%.In summary, good quality and relatively cheap valuations are pointers to those stocks that are some of the most appealing to contrarian value investors.

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Tuesday, July 07


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Credit Agricole CEO sees 'encouraging' signs of French economic bounce

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Credit Agricole CEO sees 'encouraging' signs of French economic bounce. (Reuters) - Credit Agricole's (CAGR.PA) Chief Executive Philippe Brassac said on Tuesday there were signs economic activity was picking up in France, in the aftermath of the coronavirus lockdown. "We have indicators that are very encouraging for end-May early June, notably for the Electronic Payment Terminal activity at retailers," Brassac told BFM Business radio. The French economy is on course to bounce back this quarter as much as it probably slumped in the previous three months, the Bank of France estimated on Monday, saying it might need to revise up its 2020 forecast.

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Friday, July 03


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Italy's F2i in talks to sell solar stake to Credit Agricole arm -sources

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MILAN, July 3 (Reuters) - Italian infrastructure fund F2i is in exclusive talks with Credit Agricole unit Predica to sell a 30% stake in Italy's biggest solar power operator EF Solare, three sources familiar with the matter said. The deal could be worth as much as 1 billion euros ($1.1 billion), one of the sources said, and is designed to help F2i bankroll its photovoltaic business, one of the biggest in Europe, at home and abroad. "Talks have slowed a bit due to fallout from the coronavirus crisis so things are likely to go to after summer at this point," one of the sources said. EF Solare, Italy's biggest solar power operator, could be worth more than 3 billion euros including debt, another source said.

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