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BNP Paribas, SocGen Rise as Funding Concerns Rejected

BNP Paribas SA, France’s biggest bank, and Societe Generale SA rebounded in Paris trading after rejecting concerns over their access to funding.

BNP Paribas, which plunged as much as 12 percent, closed 7.2 percent higher, the biggest gain in more than a year. Societe Generale, which slid as much 8.1 percent, jumped almost 15 percent after Chief Executive Officer Frederic Oudea said in an interview with Bloomberg Television in New York that the bank’s exposure to European sovereign debt was “manageable” and that it could do without access to U.S. money-market funds.