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17 Mar 2016
European stocks drop as banking shares retreat
Stock markets across Europe erased early gains and fell into losses on the back of weakness in banking shares.
At the time of writing, pan-European Stoxx 50 index was down 0.40%. Germany’s DAX was down 0.63%, while France’s CAC was down 0.40%. Meanwhile, rally in the mining shares ensured UK’s FTSE managed to avoid losses.
Germany’s Deutsche Bank and Commerzbank shares were down 4.41% and 3.6% respectively. Shares in Italy’s Unicredit were down 3.27%.
On the other winning slide was dominated by London listed miners like Anglo American, BHP Billiton, Glencore, Antofagasta, Rio Tinto.
Stock markets had opened on a positive note as risk-on mood strengthened following dovish FOMC statement.
At the time of writing, pan-European Stoxx 50 index was down 0.40%. Germany’s DAX was down 0.63%, while France’s CAC was down 0.40%. Meanwhile, rally in the mining shares ensured UK’s FTSE managed to avoid losses.
Germany’s Deutsche Bank and Commerzbank shares were down 4.41% and 3.6% respectively. Shares in Italy’s Unicredit were down 3.27%.
On the other winning slide was dominated by London listed miners like Anglo American, BHP Billiton, Glencore, Antofagasta, Rio Tinto.
Stock markets had opened on a positive note as risk-on mood strengthened following dovish FOMC statement.