1200 GMT - The cost of insuring French bank bonds against default trades close to the highest level in over a month as a potential French budget crisis dampens investor sentiment. "Investors [are] preoccupied with concerns regarding the economic and political stability of key European nations, including Germany's inflation figures and France's budget woes," Tickmill Group's Patrick Munnelly says in a note. Credit Agricole's credit default swaps rose to 48 basis points on Wednesday, the highest level over 3 months, and remain at that level Thursday, S&P Global Market Intelligence data show. Societe Generale's CDS trade at 56bps, close to 57bps, the highest level in over a month. (miriam.mukuru@wsj.com)
(END) Dow Jones Newswires
November 28, 2024 07:00 ET (12:00 GMT)
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