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STOCKS NEWS EUROPE-BNP up on forecast-beating results

Thu Nov 5, 2009 3:33am EST

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Shares in BNP Paribas (BNPP.PA) rise 1.3 percent, outpacing the DJ STOXX banking index .SX7P which drops 1.3 percent, after the eurozone's second biggest bank by market cap posts forecast-beating results.

"The contribution from Fortis was far above expectations. CIB revenues were in line with forecasts...Globally, the market should be reassured by these figures, despite the fact that the company says it does not expect a significant decline in cost of risk," a Paris-based trader says.

So far this year, BNP stock is up 82 percent while the banking index has risen 47 percent and BNP's rivals Societe Generale (SOGN.PA) and Credit Agricole (CAGR.PA) are up 33 percent and 69 percent respectively.

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Reuters Messaging rm://blaise.robinson.reuters.com@reuters.net


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