"The Bishopsgate Blog"

Societe Generale issue profits warning

Posted on Wednesday Jan 13 8:40:00 GMT 2010
The City were concerned after hearing that France's second largest bank said it would be hit by a £1.3 billion write down in its final financial quarter.

Societe Generale added another fear by announcing that its investment banking arm fared worse in  the fourth quarter than the third with profits set to fall "especially in fixed income, reflecting lower investment activity as of November  
and less favourable market conditions.

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