Eurozone Banks Fall Because of Stocks
London – Eurozone Banks Fall Because of Stocks on Monday after news that the European Central Bank examines some of the non-performing loans, pushing a key index to its lowest level in more than a year.
The banking sector index fell the euro area 3.1 percent as traders attributed to news received over the weekend that the European Central Bank to achieve with a number of banks in the region regarding the non-performing loans within the framework of its efforts to address the bad debt crisis.
Bank shares tumbled Sabadell of Spain and France’s Credit Agricole and Commercial Bank of Portugal between 4.5 and 7.8 percent.
And the payment of the weak performance of banks Euro Stoxx 50 index of the shares of the euro zone to fall 0.6 percent, while the FTSEurofirst 300 index fell European wider 0.3 percent to 1293.29 points.
Said Mark Foulds, a trader at Capital “uncertainty in the market, whether in Europe or anywhere else brings suffering to those Centument LTD Assets Trading Software banks.”He added that the market is under additional pressure as a result of fluctuations related to China in the recent period.
FTSEurofirst 300 and touched its lowest level in more than a year. Some said that the European Central Bank may provide a new stimulus when it meets later this week and in the light of European shares fell ten percent due to weak oil prices and concerns related to China.