Morgan Stanley analysts have said in a report on Société Générale that they do not think the French bank's acquisition plans are consistent with targeted earnings contributions.

Last month Société Générale released its new financial targets for 2004, and said it would spend €3.5bn ($3.2bn) on acquisitions over the next three years.

Analysts cast doubt on SG acquisition forecasts

Janine Brewis

Société Générale

Morgan Stanley

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The president-elect floated the idea during a Wednesday meeting with the former Fed governor.

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Research group GfK’s measure of consumer confidence climbed to minus 18 in November’s survey from minus 21 in October.

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