(News Bulletin 247) – The Parisian index is moving down sharply in mid-session, penalized by renewed fears about the banking sector.

The Paris Stock Exchange left to end the week on a very bad note. The Parisian index is weighed down by a renewed tension on the banks and thus yields 2.2% to 6,985.20 points at mid-session.

“Investors are still in doubt about the banking sector, the recent remarks of the American Secretary of State failing to reassure”, notes John Plassard of Mirabaud.

Treasury Secretary Janet Yellen has ruled out guaranteeing all bank deposits in the United States, thus rejecting requests from weakened regional institutions.

Deutsche Bank in the hard

“It’s simple: as long as the banking crisis in the United States is not resolved, there will be fears about the stability of the system in Europe and volatility in the sector”, explains David Benamou, director of investments at Axiom Ai. .

Deutsche Bank fell particularly, yielding 13.22% on the Frankfurt Stock Exchange. As reported by several press agencies, the institution is facing a sharp rise in its CDS (Credit Default Swaps), hedging instruments against default risk. In Paris, Societe Generale lost 7.3% and BNP Paribas 7%.

To make matters worse, Bloomberg reported that UBS and Credit Suisse are among the institutions under investigation by the US Department of Justice to determine whether they potentially helped Russian oligarchs evade sanctions.

On values ​​other than banks, Casino tumbled 12% after having already lost 9% the day before. The distribution group suffered from a downgrading of its credit rating by the Moody’s agency by one notch to “Caa1” against “B3” previously.

All the values ​​of the CAC 40 are also in the red with the exception of Sanofi which takes 0.1%.

On the other markets, the euro fell by 0.9% against the dollar, to 1.074 dollar, the greenback benefiting from its status as a safe haven. Like all risky assets, oil is under attack. The contract on Brent from the North Sea for May lost 3.9% to 72.56 dollars a barrel while that of the same term on WTI listed in New York fell 4.2% to 67 dollars a barrel.