France sells $11 bn of bonds as yields rise
France sold 7.98 billion euros ($10.82 billion) in debt as borrowing costs rose. The treasury auctioned 3.02 billion euros of nine-year securities at an average yield of 2.3%, compared with 2.07% at the last such sale on January 3. It sold 3.19 billion euros of 14-year bonds were sold at a yield of 2.85%, compared with 2.56% in the last auction on December 6. It also sold 1.77 billion euros of seven-year debt at an average yield of 1.83%.
Visa profit beats estimates
Visas quarterly profit beat analysts estimates for the ninth quarter in a row as payment volume growth accelerated at the largest credit and debit-card network. The companys profit rose to $1.3 billion, or $1.93 per Class A share, from $1 billion, or $1.49 per Class A share, a year earlier. Visa reported an adjusted profit of $1.82 per share, topping analysts average estimate of $1.79 per share, according to Thomson Reuters I/B/E/S. Total operating revenue rose 12% to $2.80 billion.
Credit Suisse back in profit in Q4
Credit Suisse, Switzer-lands second-biggest bank, returned to profit in the fourth quarter of 2012, but said it was planning to cut costs more than previously planned. The Zurich-based bank said on Thursday it made a profit of 397 million Swiss francs ($435 million) in the period, in contrast to last years loss of 637 million francs. CEO Brady W Dougan said 2012 was a year of transition as the bank struggled with tough market conditions and made aggressive cuts in costs and risks while meeting new requirements that it hold more capital.