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Growth in Europe: The towering potential of French banks
French banks are among those most likely to benefit from an economic recovery in Europe. That's according to in-depth research carried out by Saxo Bank's Head of Equity Strategy, Peter Garnry. He says, in general valuations are quite low when you look at the expected Return on Equity in two years.
Peter particularly likes Societe Generale. He says it and many of its peers had complex structures with a lot of exposure to countries such as Greece. In recent years they've been cleaning up their balance sheets and as economic conditions improve, they should see much better operating results and a corresponding increase in share price. France on Tuesday posted better than expected economic growth of 0.5% in the second quarter, so exiting recession.
01:28 minutes
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