CAC 40 Tumbles With Banks Under Pressure
(RTTNews) - French stocks fell sharply on Friday, with banks coming under selling pressure once again on a Bloomberg report that Credit Suisse Group and UBS Group AG are among the banks under scrutiny in a U.S. Justice Department probe for potentially helping Russian oligarchs evade sanctions.
Meanwhile, investors shrugged off data showing that French business activity strengthened in March by more than forecast.
S&P Global's flash reading for the composite PMI - which comprises both the services and manufacturing sectors - rose to 54.0 points from 51.7 in February.
The benchmark CAC 40 was down 82 points, or 1.3 percent, at 7,045 after closing 0.1 percent higher on Thursday.
Banks BNP Paribas, Credit Suisse and Societe Generale slumped 2-4 percent.
Sensex, Nifty Edge Lower; IT Stocks Drag On Trade Worries
Yen Falls Against Majors
Australian Market Extends Early Losses In Mid-market
Asian Markets Mostly Higher
Sensex, Nifty Set For Muted Start
Japanese Market Slightly Higher
Australian Market Slightly Lower
