The flagship CAC 40 index fell 100.32 points to 6,925.40 points. On the week, it fell 4.09%, its worst performance in six months. However, the Paris index is still up 6.98% since the beginning of the year.

The bill is even more salty for banks, with falls of 16.94% in five days for Société Générale, 14.22% for BNP Paribas and 9.35% for Crédit Agricole.

The Parisian rating had however attempted a rebound at the opening, in line with its gain of 2.03% Thursday, but the momentum was quickly broken.

"Today's trend is still very exciting for the markets. It still takes a few days before restoring confidence," said Vincent Juvyns, a member of JP Morgan AM's strategy team.

Outside France, institutions deemed most at risk by investors have been shunned again, such as Credit Suisse or First Republic in the United States.

The support measures of the American and Swiss authorities, the massive deposits of American banks to ensure liquidity to First Republic were only enough to restore calm for a few hours.

After the ECB meeting on Thursday, where the institution maintained its course, the US Federal Reserve will communicate its monetary policy decision next Wednesday.

Banks still under pressure

Banks have finally suffered a new discount due to investor mistrust. On the session, Societe Generale lost 0.16% to 21.20 euros, BNP Paribas 1.95% to 51.68 euros and Credit Agricole 2.29% to 10.34 euros.

Some resistance fighters

Over the week, only five companies finished higher, the strongest being the technology company Dassault Systèmes, whose market valuation is favored when rates fall. It took 3.78% to 37.62 euros in five sessions.

The other best performers are for the CAC's heavyweights in luxury, or defensive stocks, which are less sensitive to changes in economic activity and towards which investors are going into a phase of uncertainty.

Over the week, L'Oréal gained 1.73% to 380.25 euros, Hermès 0.58% to 1,730.00, Sanofi 0.28% to 89.80 euros and EssilorLuxottica 0.09% to 159.75 euros. Pernord Ricard fell only 0.52% to 199.05 euros.

© 2023 AFP