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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.