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Let's take a look at some of the stocks on the move today in Europe and with Louise Moon, our breaking news editor in the UK, Louise Moon. Louise has told you about society general falling as the French Prime Minister Sebastian lookoff new resigned. How's that reflecting on bank stocks across the country.
Well, indeed, this is really the biggest news of the day and that's what European markets are really concentrating on. Investors very worried about even more political uncertainty in the country and really weighing on the wider market. But banks are the biggest underperformers. They're leading those declines in France, so trading volumes, if you look at those, they're jumping
far above averages. We've got the likes of BNP, sock Gen falling around five percent, stock generally leading those falls that they've been down at one point this morning over six percent, so really dragging those markets further down. There was one there's one analyst that was saying, this plunges France into or towards the unknown. There's a further loss
in confidence in the business sector. So yeah, really weighing on banks kind of across the board, and that's that's the biggest dragger this morning.
What about the French mid caps, I mean, the luxury names in decline, but much more internationally focused they.
Are, well, so these madcaps, they're the most exposed to the domestic economy, so that they're two fifty. Index in France was down over two percent this morning. And as you say, leading those losses are these luxury names, the likes of Ames, LVMH Caring. And it's also it's not just luxury, is also weighing on a wide range of sectors. So that also the likes of air busts down into the red renaut. So really weighing across those mid caps.
And it's French stocks, as I say, as a whole underperforming European peers since mccron last year decided to call snap elections, but this morning really seeing.
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