Natixis Tradingsat Natixis : Leading the CAC 40, better than expected earnings and good news about Basel 3
Wednesday, February 23, 2011 at 10:27
(c) dr | ( Tradingsat.com | ) - Natixis jumped more than 3%, to 4.25 euros, topped the list of largest increases CAC 40. The subsidiary of banking group BPCE issued before market opening in 2010 net profit of 1.732 billion euros, marking its return to profit after a loss of 1.388 billion euros recorded in 2009. | Ahead of the objectives of a strategic plan for New Deal declined successfully ", the bank reported" several strategic advances in core business lines (Corporate Banking and Investment, Savings, Financial Services Specialty). These good performances are accompanied by the resumption of payment of a dividend: the distribution of 0.23 euro per share, with payment option shares will be proposed at the General Meeting of May 26.
Given results above expectations and the consensus, analysts at Oddo confirmed Wednesday their recommendation to "Buy" on Natixis. The broker notes that the bank has raised its targets through the implementation of the new Basel rules 3. Natixis now anticipates a core Tier One greater than 8% (instead of 7% previously) from 2013 and without recourse to the market.  FB - Copyright (c) 2006-2011 | Tradingsat.com. All rights reserved. |
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