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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.