On Friday, shares in Societe Generale SA (EPA:SOGN) climbed by more than 5 per cent after the French lender reported better-than-expected Q3 profits.

The reported group net income at France’s third-largest bank dropped to just under 1.5B euros (USD 1.47B). However, it was still ahead of estimates for the figure to come in at 1B euros. Societe Generale witnessed a boost due to robust performance at its international markets and investor services unit, which witnessed reported net earnings expand to 629M euros.

A volatile trading environment marked by rising inflation and high-interest rates helped back fixed-income trading. Also, equity trading remained resilient despite the macroeconomic headwinds facing stock markets. This overpowered a deceleration in the company’s advisory services and investment banking offerings emanating from client concerns over a potential recession.