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STOCKS NEWS EUROPE-Credit Agricole up as results please

Wed Nov 11, 2009 3:20am EST

Stocks

   

Shares in France's biggest retail bank Credit Agricole (CAGR.PA) rise 4 percent, outpacing a 0.9 percent in the DJ STOXX bank index .SX7P, after the lender's third quarter net profit fall less than many had expected and the bank plucks a new chief executive from its influential regional divisions.

"Credit Agricole has reported a very strong set of results. Not only was net profit above forecasts, but the breakdown of these numbers was a positive surprise, with recurrent franchises -- retail and asset management -- enjoying a boom," a Paris-based trader says.

So far this year, Credit Agricole is up 88 percent, while rival Societe Generale (SOGN.PA) is up 46 percent and BNP Paribas (BNPP.PA) is up 97 percent over the same period.

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


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