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.
Indonesia Shares Tipped To Open In The Green
Hong Kong Shares Poised To End Two-Day Slide
China Stock Market May Stop The Bleeding On Thursday
Taiwan Stock Market May Extend Winning Streak
Singapore Stock Market May Extend Wednesday's Gains
Malaysia Bourse May Add To Its Winnings On Thursday
Higher Open Called For Japan Stock Market
