So far, so good -Whether Bruno the Mayor wanted to be reassuring about the resilience of the French banking sector, the market does not seem entirely of this opinion. And, investors seem to want to get out of a sector weakened by the recent bankruptcy of SVB and the closure of Signature Bank in the USA.
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As we approach the environment of day, theall bank stocks listed in France show a significant drop and sudden of their courses.
- BNP Paribas recorded a 10% decline;
- Societe Generale also reached the 10% drop;
- The share price Agricultural credit approaching 6% decline.
While the Minister of the Economy shouts his voice trying to reassure investors and customers of all French banks, it seems that this was not enough.
To this day, no one knows how much the banking sector is weakenedboth by the recent American bankruptcies and, closer to home, the increasingly worrying situation of Credit Suisse, which this morning recorded a new low of 1.89% after having suffered a 20% drop when the markets open.
The panic on bank shares is not limited to France, all European stocks are suffering on Wednesday 15 March. Thus the Deutsche Bank share also fell by 7%.
It therefore seems that the market is not completely convinced by the reassuring words of governments and the presence of preventive measures aimed at protecting customer deposits.
We will naturally come back to you during the day to update this article and take stock of the situation.
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