French Banks Post Lower FX Results In Latest Interim Earnings Reports
BANKS
Most of the French banks releasing interim FX earnings are reporting lower results compared to the same period a year ago. The lower results are due mainly to lower volatility in the financial markets, says Jean-Pierre Conte, economist with MMS International in London.
Conte says the French franc appreciated between January and April causing higher volatility. "The end of the general transport strike and speculation about France's possible entry into EMU contributed to the appreciation of the
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