Black Monday in Paris as Bourse suffers worst-ever loss
Worries over the European banking system and a weak Wall Street sent the Paris Bourse to its worst-ever single-day loss on Monday, with its benchmark CAC 40 plunging by 9.04 per cent, to finish at 3,711.98, its lowest level in four years, dpa reported.
All 40 listed stocks finished in the red, led down by the recently rescued French-Belgian financial service group Dexia, which lost 20.29 per cent, to 6.80 euros (9.18 dollars).
Because of fears of continued tight credit, industrial stocks fared worst as a group, with steel giant Arcelor Mittal off by 14.85 per cent, to 28.30 euros.
French-American telecommunications manufacturer Alcatel-Lucent slid by 14.76 per cent, to end the day at 2.27 euros, and transport manufacturer Alstom gave up 13.12 per cent, to 43.00 euros.
French bank BNP Paribas was able to limit its losses, down a relatively moderate 5.39 per cent, to 67.50 euros, as investors apparently did not disapprove of its takeover of the Belgian insurance and bank giant Fortis.