December 19, 2018 / 8:12 AM / a month ago

French bank Natixis' shares fall after derivatives hit

PARIS, Dec 19 (Reuters) - Shares in French bank Natixis fell on Wednesday after Natixis booked 260 million euros ($296 million) of losses and provisions on poorly-performing Asian derivatives.

Natixis added late on Tuesday that the one-off hit would result in fourth-quarter revenues dropping to 2 billion euros, from 2.25 billion euros in the same period last year.

Natixis shares were down 4.8 percent in early session trading.

“Whilst the market environment has been particularly challenging in Q4, the size of the hedging losses does raise questions about risk management,” wrote JP Morgan in a note, although it kept an “overweight” rating on Natixis shares.

$1 = 0.8775 euros Reporting by Sudip Kar-Gupta; Editing by Michel Rose

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