Societe Generale Group (SCGLY) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
PRESS RELEASERegulated information Paris, 4 August 2022, 6 pm Availability of the second amendment to the 2022 Universal Registration Document Societe Generale hereby informs the public that the second amendment to the 2022 Universal Registration Document filed on 9th March 2022 under number D.22-0080, has been filed with the French Financial Markets Authority (AMF) on 4th August 2022 under number D-22-0080-A02. This document is made available to the public, free of charge, in accordance with th
French bank Société Générale swung to a €1.5bn loss in the second quarter after selling out of Russia, but has reported higher than expected revenues across its business and set out new growth targets. Its revenues rose 12.8 per cent to €7.06bn, higher than the €6.6bn average expected in a Refinitiv poll of analysts, thanks to a strong performance across all of its business lines, from equities trading to its French retail bank. It recorded particularly strong earnings from bond trading, up 50 per cent from a year earlier, while revenues in its investment bank were up 18.3 per cent.