in French bank Societe Generale, after being briefly suspended at the market opening Thursday, rebounded with the share price rising 8.9 percent to 24.16 euros.

"/> in French bank Societe Generale, after being briefly suspended at the market opening Thursday, rebounded with the share price rising 8.9 percent to 24.16 euros.

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DEBT CRISIS

Societe Generale rebounds after trade suspended

Trading in French bank Societe Generale, after being briefly suspended at the market opening Thursday, rebounded with the share price rising 8.9 percent to 24.16 euros.

Published: 19 August 2011 09:06 CEST
In Wednesday, Societe Generale shares fell 14.74 percent on rumours, later denied as unfounded, that the bank faced problems because of its exposure to Greek debt.

Other banks, which also suffered badly on Wednesday, staged similar gains on Thursday. Shares in BNP Paribas were up more than 1.0 percent, Credit Agricole 3.0 percent and Natixis 4.0 percent around 0705 GMT.

The French stock exchange regulator (AMF) said earlier that it will watch closely how bank shares fare on Thursday.

“We will be watching over the sound functioning of the markets and in particular, the banking stocks which suffered badly (on Wednesday),” an AMF spokesman said.

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STOCK MARKET

Swiss stock market opens down after Wall Street chaos

The Swiss Market Index (SMI) stood at 8,771.90 points or 3.6 percent down shortly after the opening of the day’s trading on Tuesday.

Published: 6 February 2018 10:02 CET
Swiss stock market opens down after Wall Street chaos
A trader in New York on Monday. Photo: Bryan R. Smith / AFP

At one point the index was down as much as 4.3 percent. However, the index then began to rally to be down 2.36% to 8,886 points at 9.25am local time.

This is the first time the SMI has been below 9,000 points since September 2017, with the biggest losers early on Tuesday being banks. Credit Suisse shares were 5.2 percent lower while UBS stocks had tumbled 4.5 percent.

The falls on the Swiss index, which includes the 20 largest companies in the country, come a day after the Down Jones Industrial Average suffered its worst points fall in history, shedding 4.6 percent on Monday on the back of investor fears of rising interest rates.

The sharp downturn in the United States wiped out all market gains seen in 2018 to date while Asian markets also took a hit last night.

Monday’s chaos on Wall Street spelled an abrupt end to the buzzing mood on economic markets since Donald Trump’s arrival in Washington – a phenomenon described by the White House as the “Trump Bump”.