Top of the 5Y range P/E relative to Sector. 120% outperformance rel.to sector over 5Y. 15% outperformance since early October due to further “flight to safety” within the sector while Italian risk premium widened and banks with emg.mkts exposure underperformed. No positive relative EPS revisions since. And if Monsieur Mustier of Unicredit really fancy a merger with Soc Gen…. bonne chance to Soc Gen. He worked 22 years at Soc Gen but only 4 months at UCG. Perhaps rights issues and balance sheets ....
23 Nov 2016
EUROPEAN IDEAS
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EUROPEAN IDEAS
Societe Generale S.A. Class A (GLE:WBO) | 0 0 0.9% | Mkt Cap: 37,685m
- Published:
23 Nov 2016 -
Author:
Vanni Vecchini -
Pages:
9
Top of the 5Y range P/E relative to Sector. 120% outperformance rel.to sector over 5Y. 15% outperformance since early October due to further “flight to safety” within the sector while Italian risk premium widened and banks with emg.mkts exposure underperformed. No positive relative EPS revisions since. And if Monsieur Mustier of Unicredit really fancy a merger with Soc Gen…. bonne chance to Soc Gen. He worked 22 years at Soc Gen but only 4 months at UCG. Perhaps rights issues and balance sheets ....