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BNPParibas

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BNP Paribas expects 75 bps rate cut from ECB next year

BNP Paribas expects 75 bps rate cut from ECB next year Dec 7 (Reuters) - BNP Paribas expects the European Central Bank (ECB) to deliver its first interest rate cut in April 2024 and a "gradual pace of cuts" through the year, citing weak economic activity and easing inflation. BNP Chief Economist Luigi Speranza sees ECB's benchmark rate at 3.25% by 2024-end, from 4% currently, with the first cut expected to be by a quarter percentage point.
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Top of the Street: Adyen, Worldline, Boliden, Vodafone, Telia

BUZZ-Top of the Street: Adyen, Worldline, Boliden, Vodafone, Telia A round-up of notable broker activity this morning from Europe's top-ranked* analysts: ** In a note on European payments & fintech, Jefferies prefers Adyen ADYEN.AS over Worldline WLN.PA amid difficult market dynamics in 2024 ** The broker upgrades Adyen to "buy" from "hold", saying the Dutch company is well placed to weather the tough macro backdrop in Europe thanks to its global diversification ** On the other hand, it cuts Wor
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SocGen to sell two African businesses to Vista Group

UPDATE 2-SocGen to sell two African businesses to Vista Group Adds statement from Vista Group paragraphs 3-4 PARIS, Dec 7 (Reuters) - Societe Generale SOGN.PA , France's third-biggest listed bank, has agreed to sell two African subsidiaries in Burkina Faso and Mozambique to pan-African banking group Vista Group, the companies said on Thursday. Vista will acquire Societe Generale's 52.6% stake in Societe Generale Burkina Faso and its 65% stake in Banco Societe Generale Mocambique.
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Robust Nov foreign inflows in Asian equities signal positive outlook for 2024

GRAPHIC-Robust Nov foreign inflows in Asian equities signal positive outlook for 2024 By Gaurav Dogra and Patturaja Murugaboopathy Dec 7 (Reuters) - Asian equities attracted substantial foreign investment in November, signalling the prospects of continued inflows next year, bolstered by a decrease in U.S. Treasury yields and rising optimism for potential Federal Reserve rate cuts.
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African Markets - Factors to watch on Dec 7

African Markets - Factors to watch on Dec 7 NAIROBI, Dec 7 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. - - - - - EVENTS: A Kenyan court will rule on a petition to find Meta in contempt of court for allegedly ignoring an order to pay the salaries of 260 Facebook content moderators who were laid off by a sub-contractor.
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