french bank shares slide after ratings downgrade
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
Arab Today, arab today

French bank shares slide after ratings downgrade

Arab Today, arab today

Arab Today, arab today French bank shares slide after ratings downgrade

Paris - AFP

Shares in French banks slid on Tuesday after Standard & Poor's downgraded them, following its downgrade of France's sovereign rating. Credit Agricole dropped 2.69 percent in early trading to 5.07 euros and Societe Generale dropped 3.20 percent to 22.03 euros after having their ratings dropped by one notch to A from A+. BNP Paribas, which had its rating confirmed at AA-, dipped 0.07 percent to 36.04 euros. BPCE, includes the Caisse d'Epargne and Banque Populaire retail banks, also had its rating dropped by one notch to A from A+  

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