French bank Credit Agricole is planning to buy a 50% stake in Chinese company GAC Finance Leasing, which is a unit of Guangzhou Automobile Group , to tap into the booming Chinese electric car market, it said on Tuesday.
Xiaojia Zhi, Chief China Economist at Credit Agricole, says the government still needs to introduce more fiscal stimulus to shore up consumer sentiment despite signs of stabilization in China's consumer spending.
French bank Credit Agricole said on Friday that its Credit Agricole Transitions & Energies unit had bought stakes of up to 32% in 11 wind farms in France.
Credit Agricole SA , France's second-largest listed bank by market value, beat analyst estimates in the second quarter as its investment banking unit posted record sales driven by strong capital markets and corporate finance activity.
Spanish fund Asterion will invest in Italian airports after agreeing to buy 49% of a holding company that controls the Naples and Turin airports among other from France's Ardian and Credit Agricole Assurance, sources close to the matter said.
Political developments in France may have sent Crédit Agricole shares down sharply this week, but Crédit Agricole has still comfortably outperformed wider European financials in recent years. While it has outperformed peers since the Eurozone's interest rate hiking cycle began in 2022, the bank's sensitivity to interest rates is actually fairly limited. This can help sustain profitability now that Eurozone interest rates are falling again.
Credit Agricole (CRARY) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Here is how Credit Agricole SA (CRARY) and Golub Capital BDC (GBDC) have performed compared to their sector so far this year.