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Amid fears of French Industrial Bank (601166) Lehman Brothers took the old road, on Wednesday the French second-largest bank shares plunged nearly 15% . SG said in a statement yesterday, the rumors unfounded, and has asked the French Financial Markets Authority to investigate the origin of the rumors.
Wednesday, speculation France will lose AAA rating, the French banking sector is in trouble, and SG have a bankruptcy possible. Bad bankruptcy rumors in the stimulus, the French bank Societe Generale shares fell 22.5 percent, to 22.18 euros final closing, down 14.74%.
French bank yesterday denied all of the price of their impact on market rumors, saying that these rumors are unfounded. The statement said that its exposure from neighboring European countries at a low level of sovereign debt risk. In addition, the financing plan for 2011 is nearing completion, and have qualified and available to the central bank to refinance the huge assets.
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