SCGLF - SocGen: Too Much Uncertainty Despite Cost Savings
Societe Generale (SCGLF) is not only one of the largest European banks but more importantly a globally systemically important bank. It trades on the French equity market Euronext and is also accessible for trading on the American OTC market. The bank trades at one of its lowest valuations, historically speaking, and hit a record low after Q2- earnings were posted. In my opinion, the earnings' releases are representative of market conditions and warrant caution – especially given the lack of guidance towards dividends/buy backs. In my view, we should witness considerable restructuring going