Thursday's Trading: French Transport Strike Derails Stocks, Causing 1.6% Drop

• Published in: Wall Street journal. Europe
• Main Author: This article was prepared by Susannah Patton, Susan Pukall-Koehler, Jonathan Birt And Vito Racanelli of the AP-Dow Jones News Service
• Format: Newspaper Article
• Language: English
• Published: Brussels Dow Jones & Company Inc 01.12.1995
• Edition: Europe
• Subjects: American dollar; Bank acquisitions & mergers; Banking; Bond markets; Corporate profits; European Monetary Union; Futures; Interest rates; Investments; Prices; Stock brokers; Stock exchanges
• ISSN: 0921-9986

Traders said pressure will likely remain on the market in coming days. Stocks started their slide late Wednesday after noon, following plunges in the franc and domestic bond markets. Financial shares were attacked throughout the day on disappointment the Bundesbank didn't lower interest rates Thursday. Financial and industrial holdings group Suez finished the day down 4.5%, or 8.8 francs, at 187.10 francs, while banking group Societe Generale fell 3.5%, or 21 francs, to 583 francs. Among the few noteworthy gainers, pay-TV firm Canal Plus rose 1.6%, or 14 francs, to 908 francs. Canal Plus said Tuesday it is joining with U.S. cable giant Tele-Communications and Cie. Generale des Eaux to form a TV programming venture. Canal Plus is also said to be close to a deal with Europe's largest commercial broadcaster, Cie. Luxembourgeoise de Telediffusion.