Overseas stocks headed higher - WCIV-TV | ABC News 4 - Charleston News, Sports, Weather

Overseas stocks headed higher

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PARIS (AP) -- Shares in French bank Societe Generale have spiked 7 percent higher as it asks the market regulator to investigate a dramatic stock selloff that rattled markets worldwide.

Bank across Europe were recovering Thursday though investors remain worried about the health of leading economies.

Rumors that Societe Generale was on the ropes sent its stock down over 20 percent at one stage Wednesday, triggering a rout of European bank stocks. It eventually ended 14.7 percent lower.

Societe Generale CEO Frederic Oudea on Thursday called the rumors "totally unfounded" and said on France-Info radio that the bank has asked the French market authority to investigate.

Worries have also mounted that France could be next to see its credit rating downgraded.


  • Jon Bruce

    Email: jbruce@abcnews4.com Reporter Profile




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