Speaker 1: Bloomberg Audio Studios, podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at some of the stocks on
Speaker 3: the move today in Europe and with Louise Moon, our
Speaker 3: breaking news editor in the UK, Louise Moon. Louise has
Speaker 3: told you about society general falling as the French Prime
Speaker 3: Minister Sebastian lookoff new resigned. How's that reflecting on bank
Speaker 3: stocks across the country.
Speaker 1: Well, indeed, this is really the biggest news of the
Speaker 1: day and that's what European markets are really concentrating on.
Speaker 1: Investors very worried about even more political uncertainty in the
Speaker 1: country and really weighing on the wider market. But banks
Speaker 1: are the biggest underperformers. They're leading those declines in France,
Speaker 1: so trading volumes, if you look at those, they're jumping
Speaker 1: far above averages. We've got the likes of BNP, sock
Speaker 1: Gen falling around five percent, stock generally leading those falls
Speaker 1: that they've been down at one point this morning over
Speaker 1: six percent, so really dragging those markets further down. There
Speaker 1: was one there's one analyst that was saying, this plunges
Speaker 1: France into or towards the unknown. There's a further loss
Speaker 1: in confidence in the business sector. So yeah, really weighing
Speaker 1: on banks kind of across the board, and that's that's
Speaker 1: the biggest dragger this morning.
Speaker 3: What about the French mid caps, I mean, the luxury
Speaker 3: names in decline, but much more internationally focused they.
Speaker 1: Are, well, so these madcaps, they're the most exposed to
Speaker 1: the domestic economy, so that they're two fifty. Index in
Speaker 1: France was down over two percent this morning. And as
Speaker 1: you say, leading those losses are these luxury names, the
Speaker 1: likes of Ames, LVMH Caring. And it's also it's not
Speaker 1: just luxury, is also weighing on a wide range of sectors.
Speaker 1: So that also the likes of air busts down into
Speaker 1: the red renaut. So really weighing across those mid caps.
Speaker 1: And it's French stocks, as I say, as a whole
Speaker 1: underperforming European peers since mccron last year decided to call
Speaker 1: snap elections, but this morning really seeing.
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