CAC 40 Turns Weak After Positive Start; BNP Paribas Plunges 10%
(RTTNews) - French stocks are turning in a mixed performance on Monday with investors tracking corporate news, and digesting S&P Global Ratings' downgrade of France amid fiscal risk and uncertainty surrounding government's finances.
The benchmark CAC 40 was down 7.48 points or 0.09% at 8,166.72 a few minutes ago. The index had advanced to 8,239.67 earlier in the session.
BNP Paribas is plunging more than 10% after a US jury held the bank responsible for helping to sustain Sudan's brutal regime under deposed leader Omar al-Bashir. The panel awarded three plaintiffs more than $20 million in damages.
Credit Agricole is down 3.5% and Societe Generale is down by about 2.8%.
Veolia Environment is down 1.4%, while Orange, Vinci, Unibail Rodamco, Bouygues, AXA, Engie and TotalEnergies are down 0.5 to 1%.
Among the gainers, Kering is rising nearly 3.5%, after the company agreed to sell its beauty division to L'Oréal for €4 billion. L'Oreal shares are modestly higher.
Thales is up 2.5% and Safran is climbing up 2.1%. STMicroElectronics and Legrand are up 1.5% and 1.2%, respectively.
Airbus, Hermes International, Accor, Saint Gobain, ArcelorMittal, Michelin and Schneider Electric are up with moderate gains.
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