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Credit Agricole Group Q3 Profit Climbs On Strong Revenues

French lender Credit Agricole Group (CRARF, CDA.L, ACA), comprising Crédit Agricole S.A. and Regional Banks, reported Wednesday that its third-quarter stated net income Group share reached 2.22 billion euros, a growth of 25.7 percent from last year’s 1.77 billion euros.

The Group’s underlying net income Group share amounted to 2.34 billion euros, a year-on-year increase of 15.6 percent.

Credit Agricole S.A.’s stated net income climbed 43.5 percent from last year to 1.40 billion euros and underlying net income grew 26.7 percent to 1.41 billion euros.

Credit Agricole Group’s stated revenues increased 6 percent to 8.969 billion euros from last year’s 8.468 billion euros. Underlying revenue of 8.972 billion euros grew 6.1 percent from last year.

Credit Agricole S.A.’s stated revenue was 5.53 billion euros, up 7.4 percent from last year, and underlying revenue improved 7.6 percent to 5.54 billion euros.

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French Industrial Production Declines Unexpectedly

France industrial production decreased unexpectedly in September, data released by the statistical office Insee said on Friday. Industrial output fell 1.3 percent in September from August, when production was up 1 percent. Production was forecast to climb 0.4 percent.

Similarly, manufacturing output decreased 1.4 percent after rising 1.1 percent a month ago.

Within manufacturing, transport equipment manufacturing logged the biggest fall of 8.4 percent. Further, manufacture of coke and refined petroleum products was down 2.3 percent, while equipment goods output gained 1.3 percent.

Compared to February 2020, the last month before the first general lockdown, output dropped 5.9 percent in the manufacturing industry and by 5.2 percent in the whole industry.

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Denmark’s Industrial Production Drops In September

Denmark’s industrial production declined in September, figures from Statistics Denmark showed on Friday.

Industrial production fell a seasonally adjusted 5.6 percent month-on-month in September, after a 3.3 percent growth in August. In July, output rose 6.4 percent.

Production of pharmaceutical decreased the most by 29.6 percent monthly in September and those of chemical industry and oil refineries declined 3.4 percent.

The industrial turnover gained 7.2 month-on-month in September.

For the three months ended in September, the industrial production rose 4.8 percent.

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Singapore’s Retail Sales Grow In September

Singapore retail sales grew in September, data from the Department of Statistics showed on Friday.

Retail sales grew 6.6 percent year-on-year in September, after a 2.8 percent fall in August.

Motor vehicle sales declined 2.0 percent annually in September, following a 17.5 percent fall in the previous month.

Excluding motor vehicles, retail sales 8.3 percent yearly in September, after remained unchanged in the preceding month.

Sales of computer and telecommunications equipment gained 66.1 percent and those of petrol service stations rose 22.3 percent. Sales of watcher’s and jewelry, and food and alcohol increased by 13.3 percent and 7.2 percent, respectively.

Sales of cosmetics, toiletries and medical goods, and wearing apparels and footwear rose by 7.1 percent and 6.9 percent, respectively.

On a monthly basis, retail sales rose 6.0 percent in September, after a 0.6 percent fall in the prior month.