European stocks drop as banking shares retreat

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    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.
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