1347 GMT - Credit Agricole isn't currently expected to provide more clarity on how consolidation in the Italian banking sector will impact it, Jefferies says in a research note. Europe's financial sector is swept by a wave of takeover bids, most notably in Italy, which is Credit Agricole's second-largest market. Jefferies doesn't expect a major announcement before the start of Credit Agricole's new CEO in mid-May and says a new strategic plan is unlikely until at least the end of the year. However, the French lender is ideally positioned in a environment of falling interest rates and able to defend its interests and partnerships, analyst Joseph Dickerson and associate Theo Massing write. Shares trade 0.6% higher at 16.4 euros and have gained 23% year to date. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
April 22, 2025 09:47 ET (13:47 GMT)
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