Global financial crisis Shares in France’s leading banks saw strong gains on Tuesday as investors expressed their relief at the French government’s decision to lend the six largest institutions €10.5bn ($14.1bn).
Shares in Crédit Agricole rose 15.4 per cent, Société Générale was up 10.1 per cent and BNP Paribas rose 7.3 per cent after the finance ministry said on Monday night it would provide €10.5bn in subordinated loans to bolster banks’ balance sheets in return for continuing to offer credit to businesses and households.
