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BUZZ-Despite relief rally, BNP still down 16 pct since Feb

Reuters - UK Focus

** Shares in BNP Paribas (Xetra: 887771 - news) rise 3 percent in brisk volumes in a relief rally after the French bank finally settled a U.S. sanctions case.

** BNP Paribas pleaded guilty to two criminal charges and agreed to pay almost $9 billion to resolve allegations that in many financial dealings it violated U.S. sanctions against Sudan, Cuba and Iran.

** The stock had lost as much as 20 percent since the French bank first announced the provision for the fine on Feb. 13, representing a wipeout in market value of about 15.4 billion euros ($21 billion). Despite Tuesday's bounce, the stock is still down 16.3 percent since mid-February.

** BNP (Paris: FR0000131104 - news) stock is not the worst performer among European banking stocks this year. Shares in Deutsche Bank (NYSE: DB-RI - news) are down 33 percent since mid-January.

(RM (LSE: RM.L - news) : blaise.robinson.thomsonreuters.com@reuters.net)