Euler Hermes down 4.91%

Shares of Euler Hermes, the French credit insurer, lost 4.91 per cent in Paris yesterday, closing at Ђ50.35, after reaching a yearly high of Ђ53.90 during the session.

Euler Hermes 9-months revenue slips

Credit insurer Euler Hermes, a unit of Assurances Generales de France SA (12592.FR), said nine-month revenue slipped 0.7% following the loss of a significant policy in the UK.

Euler Hermes agrees to sell Eurofactor stake

Euler Hermes SA, the world's biggest credit insurer, has agreed to sell its 49.1 per cent stake in factoring business Eurofactor to Credit Agricole SA for about Ђ188 million (US$229 million). The purchase is subject to approval by regulators.

Factoring facelift planned for Sanpaolo

A year after acquiring Banque Sanpaolo, the French unit of Italian bank Sanpaolo, French banking group Caisse d'Epargne is moving ahead with plans to make it its small- and medium-sized enterprise (SME) arm.

Small business sentiment on the decrease

French business sentiment deteriorated in August, according to a survey of around 450 small- and medium-sized companies (SMEs) by BNP Paribas Lease Group (BPLG) and Agence France-Presse (AFP).

Tour operator in administration cites credit factoring

Shares in the Italian tour operator Compagnia Italiana Turismo (CIT) plunged 10.36 per cent yesterday in Milan on the news that the Paris commercial court has put the group's French subsidiary, CIT Voyages, in administration with an observation pe