Shares in Société Générale fell sharply this morning after the French bank reported disappointing third-quarter results.
Quarterly earnings missed analysts´ expectations after the banking group was forced to earmark more funds to continuing legal disputes.
Third-quarter profit slid 15% to €932m, versus market expectations for around €1bn.
Société Générale said it was in discussions with the US authorities with a view to resolving two separate litigations and had decided to raise its provisions accordingly.
Société Générale shares were trading over 3% lower this morning.
In common with the trend witnessed across other investment banking operations this earnings season, the French group saw its trading revenues take a hit from the low volatility environment.
Revenue from its fixed income, currencies and commodities trading segment slumped 27% versus the same period of 2016.