Finally, some good news for SocGen

Société Générale said its Eu5.5bn rights issue was oversubscribed 1.84 times, giving the bank’s share price a 6.00% boost this morning. Italy’s Banca Carige, unable to sell its full allocation of its February rights issue, has now sold all unassigned rights in an auction that finished on Tuesday, thus completing the Eu957.2m rights issue. Good news for Portugal’s Banco BPI, which will ask its shareholders to vote on a Eu350m rights issue in its AGM on April 23. Read EuroWeek on Friday for a full update on these stories.