TELETRADER News
9/26/2016, 6:03 PM (Source: TeleTrader)
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Europe finishes lower as Deutsche Bank sinks

Markets in Europe closed in the red on Monday, as shares in Deutsche Bank sunk over 7% on reports that the German government ruled out any form of assistance to the lender in battling its legal issues in the United States. 

The German DAX ended the trading session 2.19% off, dragged down by Deutsche Bank's losses, which came out at 7.54% for the day. 

In London, FTSE 100 dropped 1.32% at the closing bell. The worst performer was InterContinental Hotels Group, which closed 4.33% in the negative territory following downgrades of its stocks by major investment banks. 

The French benchmark CAC 40 index lost 1.8%, with financials weighing on its overall performance. BNP Paribas slid 3.27%, while Société Générale and Credit Agricole dipped 2.95% and 2.74% on close, respectively.

Elsewhere, in Italy, the FTSE MIB index finished 1.58% in the red. Financial sector led the losses: Mediobanca slipped 3.89%, Unicredit ended 3.63% lower, while Banca Mediolanum and Banca Popolare di Milano closed 3.03% and 2.75% in the negative, respectively.

The Eurozone's joint currency gained 0.36% against the U.S. dollar, and 0.31% versus the British pound at 6:10 p.m. CET.

 

Breaking the News / IB