Paris - French investment bank Natixis on Wednesday denied a media report that it had lost 975 million euros (1.23 billion dollars) in trading last month. The business daily La Tribune had reported the massive loss earlier Wednesday, and claimed that Natixis is to issue a fourth-quarter profits warning.
According to the report, the losses were registered in trading with shares as well as currencies and interest rates.
There was no indication in the report that the alleged loss was due to unauthorized deals carried out by a small group of traders, as was the case with Natixis's parent company Caisse d'Epargne, which lost 751 million euros in early October.
The report put additional downward pressure on French banking shares, with Societe Generale, BNP Paribas and Credit Agricole all down over 1.3 per cent in mid-morning trading on the Paris Bourse.
If the loss is confirmed, it may lead to personnel changes at Natixis.
Caisse d'Epargne chief Charles Milhaud resigned after President Nicolas Sarkozy demanded that the bank's senior managers "assume all their responsibilities" regarding the loss.
