Paris - After losing more than 6 per cent of their value shortly after opening, French shares mounted a spirited fightback early Tuesday despite big losses on Wall Street and in Asia.

One hour after trading opened, the Paris Bourse's CAC 40 blue-chip index was down 2.09 per cent, at 3,310.52, as declining issues outpaced advancing shares by about 12 to 1.

Because of mounting fears of a recession, industrials were hardest hit, with steel giant ArcelorMittal and steel maker Vallourec both down more than 5 per cent.

Paris - The French Senate was due Wednesday to debate and vote on the government's 360-billion-euro (490-billion-dollar) bank rescue plan after the bill passed the lower National Assembly by a huge margin.

The bill passed its first hurdle late Tuesday when the National Assembly approved it by 224 to 23 votes, sending the plan for final approval in the Senate.

The plan, announced Monday by President Nicolas Sarkozy, will make available up to 320 billion euros to guarantee interbank loans and another 40 billion euros for the recapitalization of struggling banks.

Opposition Socialist lawmakers said they supported the plan but abstained from voting because they said it only addressed the financial crisis, not the economic crisis.

Paris - BMW has previewed the new X1 at the Paris Motor Show with a concept combining the needs of everyday traffic with all round functionality and a modern active lifestyle.

Although still described as a "concept", BMW is planning to launch sales in mid-2009 as a smaller version of the X3, measuring 11 cm shorter at 4.46 metres in length.

The concept comes with dual round headlights cut off at the top in the typical style of the BMW brand, complete with a white horizontal cover on the top edge. The position of the headlights and fog lamps brings back the three-eye face of other BMW X models.

Paris - Audi has given a preview of the 2009 serial production A1 by presenting a five-door Sportback concept with a combination of petrol and electric drive capable of powering the vehicle in electric mode for up to 100 kilometres at the Paris Motor Show.

The 1.4-litre TFSI engine develops 110 kW/150 hp with the power directed to the front wheels by means of the S tronic dual-clutch transmission. The 20 kW (27 hp) electric motor is integrated in the

drive train, delivering up to an additional 150 Nm of torque during acceleration.

Paris - The French government's bank rescue plan passed its first hurdle late Tuesday as lawmakers in the National Assembly approved the 360-billion-euro (490-billion-dollar) measure by a vote of 224 to 23.

The plan, announced Monday by President Nicolas Sarkozy, will make available up to 320 billion euros to guarantee interbank loans and another 40 billion euros for the recapitalization of struggling banks.

Opposition Socialist lawmakers said they supported the plan but abstained from voting because they said it only addressed the financial crisis, not the economic crisis.