Société Générale had another hectic day on the stock market on Monday. After falling 6% at the opening of the market, its price finally closed down 2.42%. In question? A note from analysts at Barclays who expect that consumer credit, an activity that will suffer from the explosion in unemployment, weighs on the profits of French banks (Crédit Agricole, BNP Paribas, Societe Generale). Societe Generale would be the most penalized. But Barclays is not worried about their equity.
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On the stock market, Societe Generale remains one of the most "massacred" banks in Europe: its share price has fallen by more than 54% since January, against a drop of 37% for the European sector index! The warning last week of Frédéric Oudéa, the general manager of Société Générale since 2008, on the market activities of the bank, sounded the death knell for the rebound in May. During an exchange with investors, the manager explained
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