By Carla Mozee, MarketWatch
LONDON (MarketWatch) -- European shares slipped Friday, as
shares of banking firm BNP Paribas SA posted their sharpest decline
in nearly two years, but the region's equity index was holding to
gains for the week as well as for the month.
The Stoxx Europe 600 was off less than 1 point at 334.38, but
was on track for a 0.7% advance for the week. That would mark the
seventh consecutive week of rises for the index. For the month, the
index was up 4.9%.
But hurting on Friday were BNP Paribas shares as they lost 5.3%.
It was their worst decline since September 2012, with the move
coming as the U.S. Justice Department seeks $10 billion from the
French bank to resolve a criminal probe into allegations that for
years it evaded sanctions against Iran and other countries.
Talks are ongoing over whether BNP will temporarily lose its
ability to transfer money into and out of the U.S., The Wall Street
Journal reported, citing unnamed people familiar with the matter.
It's also possible that an agreement is likely weeks away and that
BNP may pay less than the $10 billion the DOJ wants.
BNP shares lagged France's CAC 40 index , which fell 0.2% to
4,509.45.
Miners were held lower as iron-ore prices slumped. Iron-ore
miner Anglo American PLC dropped 3.3%, BHP Billiton PLC (BHP) fell
1.8%, and Rio Tinto PLC (RIO) gave up 2.8%. Mining stocks put
pressure on the U.K.'s FTSE 100 , which fell 0.2% to 6,858.67.
Meanwhile, shares of Voestalpine AG lost 1.7% following a
downgrade to neutral at J.P. Morgan, which cited a lack of
catalysts in the short-term for the steel-product maker as reason
for the move.
More news from MarketWatch:
IMF: Japan may need to keep easing for some time
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