France: Natixis hurt by rocky markets in Oct.

Wed Nov 12, 2008 4:28 AM EST

French bank Natixis said Wednesday its investment banking arm had a revenue loss of 250 million euros ($320 million) in October due to "extremely difficult" market conditions.

The bank, which reports third quarter results on Thursday, denied a report in French newspaper La Tribune that said Natixis lost 975 million euros ($1.2 billion) in its trading operations in October.

In a statement, Natixis said it "was confronted, like its peers, in October with an extremely difficult market, without precedent."

The bank also said the "cost of risk" linked to the financial crisis was 250 million euros ($320 million) in October.

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France: Natixis hurt by rocky markets in Oct.

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