BNP Slumps as Lending Headwinds Linger, Equities Miss
- Stock, bond trading rise, but main lending business declines
- Leasing unit is hit by weaker resale prices for used cars
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BNP Paribas SA slumped as its largest operating business continued to be plagued by headwinds including ill-timed hedges.
Shares of the French lender fell as much as 7.5%, leaving them down for the year, as revenue at the unit that houses retail and specialized businesses such as car leasing fell in the third quarter. The decline reflected developments including softer prices for used vehicles.