More French Bank rumours Hit The Market And The Rebound Disappears


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UPDATE: There goes the rebound.rumours that BNP Paribas may face another $713 million loss on Greece caused BNP shares to drop 2.5% into the red.

Other French banks are slipping too, with SocGen up only 1.6% after opening up 6.5%. Credit Agricole also lost early gains, up only 1.6% now.

The CAC 40 is up only 0.6% and the FTSE is flat.

Dow futures fell from over 100 points to a 43-point gain.

Early trading in Europe saw a big rally in bank stocks, as SocGen climbed back from yesterday’s 22% drop.