European banks fall on weak French earnings, higher oil prices

Credit Agricole SA

30/04/2026 10:13

** European banks fall, weighed by rising oil prices and disappointing Q1 results from French lenders Credit Agricole CAGR.PA, Societe Generale SOGN.PA, and BNP Paribas BNPP.PA

** Brent crude jumped to a fresh four-year high on concerns the U.S.-Iran war could worsen and lead to prolonged supply disruption, weighing on global growth prospects

** "French banks' results were middling which has added to the pressure," says Jefferies analyst Joseph Dickerson

** All three French banks also reported revenue decline in their investment banking divisions, weighed by a weaker dollar

** BNP Paribas down about 5%, on track for biggest one-day fall since October 2025, while Credit Agricole drops 6.4%, set for its worst day since May 2024, and Societe Generale is down 6.5%, its worst day since August 2025

** Europe's banking index .SX7P falls 1.4%, lagging the wider STOXX 600 .STOXX, down 0.1%. Top bank fallers include Deutsche Bank DBKGn.DE, UniCredit CRDI.MI and Santander SAN.MC

 (Reporting by Dimitri Rhodes in Gdansk)

 ((dimitri.rhodes@thomsonreuters.com))