0929 GMT - AXA is confident that it will close the sale of its investment manager to BNP Paribas despite market turmoil triggered by U.S. tariffs, Citi says in a research note after hosting a lunch with insurer's CEO and French investors. Tariff announcements have sent markets on a rollercoaster ride, heightening uncertainty, which is set to weigh on dealmaking and could prompt some to reconsider in-play transactions. There were surprisingly few questions at the event on the implications of tariff-related events on the French insurer's balance sheet, though this should be a focus on its 1Q results call, analyst James A Shuck writes. "The narrative was around resiliency of business lines, new savings product launches in Italy and France...to address net outflows and [contractual service margin] growth, and the distribution strength/diversification of the group more broadly," he writes. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
April 10, 2025 05:30 ET (09:30 GMT)
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