BANKS!
European banking stocks are getting crushed again on Thursday morning, as yesterday's brief rally in the markets evaporates.
An hour after the open, at 9:00 a.m. GMT (4:00 a.m. ET) all of Europe's biggest share indices are in the red, with most seeing losses of more than 2.5%. And as with most days in the past couple of weeks, the losses are being led by the biggest banks on the continent.
In pretty much every single European state at least one or two of the biggest banks are severely down, and you'd be hard pushed to find any that are trading in positive territory this morning. Here's the banking scoreboard:
- Germany - Commerzbank; down 5.78%. Deutsche Bank; down 6.25%.
- France - Societe Generale; down 12.84%. Credit Agricole; down 6.08%.
- Switzerland - Credit Suisse; down 6.70%. UBS; down 5.94%.
- Italy - Mediobanca; down 7.98%. UBI Banca; down 15.48%.
- Britain - RBS; down 4.23%. Barclays; down 4.47%.
- Spain - Santander; down 5.37%. Banco Popular; down 5.60%.
Overall, the STOXX banking index, which tracks the largest lenders in Europe, is down 5.5% on Thursday morning, and is still sliding. That fall extends the index's losses since the start of the year to 27%, and to more than 30% since the week before Christmas 2015. Here's how that looks:
Investing.com
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