STOCKS NEWS EUROPE-AXA up in wake of bid for Asian arm

Shares in AXA (AXAF.PA) rise 3 percent, the second biggest gainers on the CAC 40 .FCHI, as traders cite a flurry of positive analyst notes a day after the French insurer reveals a proposal to get full control of the Asian assets of its arm AXA Asia Pacific.

"If the proposed transaction goes through, it will almost double AXA's Asian exposure, which is likely to be positive for the group's net inflows and long-term geographical positioning, particularly given the oversight AXA APH had over the region. Alternatively, if the transaction is rejected, AXA will have 2 billion euros of extra capital at its disposal," Goldman Sachs analysts write in a note.

JPMorgan analysts say: "Overall, the deal looks quite well structured and should give AXA more financial flexibility in Asia going forward."

For more double click on [ID:nL9367432]

Reuters Messaging rm://blaise.robinson.reuters.com@reuters.net