1545 GMT - Credit Agricole is a rate-agnostic stock and is attractive to hold, UBS says in a research note. Analyst Jason Napier and associate Nicolas O'Sullivan are overweight on European banks but note that the strong run since the start of the year--shares have on average risen by one-third--leave the sector vulnerable to a more dovish interest-rate outlook. In this context, UBS recommends short-term exposure to Greek banks or Italy's Intesa Sanpaolo, and advocates for the inclusion of longer-duration markets such as Dutch banks ING and ABN Amro as well as Credit Agricole. The French bank has a track record of successful bolt-on acquisitions and its strategy isn't expected to materially change under new CEO Olivier Gavalda, they add. The stock is up 21% year to date. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

May 28, 2025 11:45 ET (15:45 GMT)

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