Post Views: 48 Shares in French banks and insurer Axa fell sharply on Wednesday after the risk premium on the country’s government bonds jumped to its highest level since 2012. since, amid political tensions over the budget that threaten to bring down the government.Axa fell as much as 5.3%, its biggest daily drop since June, and was the worst-performing stock on France’s SBF 120 index.Societe Generale fell more than 4%, Credit Agricole retreated 2.3% and BNP Paribas fell 2.2%.The European banks index fell 0.9%, while the broader pan-European Stoxx 600 index lost 0.5%. NOTE: Banks and insurers are typically exposed to both the fall in the value of French government bonds and the premium investors want to receive for them.…
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