0852 GMT - French banks are well positioned in an uncertain environment given that the domestic banking market prefers lower interest rates and their business mix beyond the local scope is skewed toward corporate and investment banking as well as life insurance and asset management, UBS says in a research note. It made sense to take profits in banks in a falling equity market amid the tariff turmoil, though the sell-off was much too big, analyst Jason Napier and associate Nicolas O'Sullivan write after the news of the sweeping U.S. levies ignited fears of global economic slowdown. In this context, owing attractively valued banks that are less geared to interest rates is also sensible, they add, pointing to Societe Generale's stock.(elena.vardon@wsj.com)
(END) Dow Jones Newswires
April 11, 2025 04:54 ET (08:54 GMT)
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