Saxo Group Videos

BNP Paribas, the surprise top equity pick

BNP Paribas is facing a fine of up to ten billion US dollars for alleged dealings in countries such as Iran, Sudan and Cuba. It's seen its share price decline significantly since that news broke in February. Yet, for Peter Garnry, Saxo Bank's Head of Equity Strategy, this is company whose valuation looks attractive with longer-term profitability potential and it's his top stock pick in Europe.

Peter believes the fine it's facing will be much lower than the ten billion dollars sought and will be seen as a one-off. He also doesn't believe a call for the suspension of its US dollar clearing operations will happen. Clearly, this is quite a risky investment he says, but the fundamentals of the bank are looking good.

Read more about Peter's analysis here:

https://www.tradingfloor.com/posts/bnp-paribas-raised-to-top-equity-pick-in-europe-on-declines-84628...

01:54 minutes
Tags: 10 billion, analysis, banking, banking sector, bnp, bnp bank, bnp fine, bnp paribas, bnp sanctions, bnp shareprice, business, business news, cac, cac 40, credit lyonais, cuba, dollars, equities, equity, equity pick, equity strategy, europe, finance, finance sector, fine, france, french, french bank, french banking sector, fundamentals, garnry, iran, news, paribas, peter, peter garnry, quant, sanctions, saxo, saxo bank, saxo bank saxo tv, saxo tv, shares, societe generale, stock pick, stock pickers, strategy, sudan, surprise, top pick, tradingfloor., tradingfloor.com, us fine, usd, usd 10 bn, valuation, video, video news

Switch to