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European stock markets had their worst week since October, with the French stock market losing $210 billion in market cap.
The French stock market lost about USD 210 billion in market cap this week, equivalent to the size of the entire Greek economy. President Macron's decision to hold parliamentary elections early erased all gains since 2024 for the CAC 40 index, putting pressure on the pan-European Stoxx 600 index, which had its worst performance since October this week. As of Friday's close, the Stoxx 600 index fell 1% in London, with autos and industrials hit hardest. Defensively oriented sectors like medical care and consumer outperformed the large cap, with the French benchmark falling 2.7%. Several of France's largest banks, including BNP Paribas and Industrial Bank of France, suffered losses.
Xiandai Investment Issues 1 Billion Yuan Bond
Chinese construction and investment services provider Xiandai Investment (SHE:000900) issued ultra-short-term bonds amounting to 1 billion yuan, the company said in its Tuesday disclosure on the Shenz
French stock market drops again, political risks impacting banks.
As the impact of French President Macron's decision to hold parliamentary elections early intensified, the French stock market saw its largest two-day drop in a year, with bank stocks falling along with French government bonds. The CAC 40 index fell 1.3%, accumulating a 2.7% drop over the past two trading days. French Industrial Bank, French Agricultural Credit Bank, and French Paris Bank led the decline, pushing the Stoxx Bank Index to its largest drop since August last year. The Stoxx 600 index fell 0.9%. Following Macron's decision to hold parliamentary elections early, the stock and bond markets have been volatile this week. "The market had no idea about France and Europe.
Tongda Group subsidiary subscribed to 50 million yuan of Industrial Bank's wealth management products.
Tongda Group (00698) has announced that on June 7, 2024, its indirectly non-wholly-owned subsidiary, Tongda Chuangzhi, will use its idle funds to subscribe to Industrial Bank's wealth management products, with a subscription amount of RMB 50 million.
Tongda Group Subsidiary Avails of Industrial Bank's Wealth Management Program
Tongda Group Holdings (HKG:0698) indirect non-wholly owned subsidiary Tongda Chuang Zhi subscribed to a wealth management program of Industrial Bank (SHA:601166) for 50 million yuan, according to a Fr
Tongda Group Subsidiary Subscribes to Industrial Bank Wealth Management Products
Tongda Group Holdings' (HKG:0698) indirect non-wholly owned subsidiary, Tongda Chuang Zhi, subscribed to wealth management products of an Industrial Bank (SHA:601116) branch using its idle funds, a We
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