Banking Stocks Lead European Indexes Lower on Customer Loan Default Fears
Dow Jones
Yesterday
0748 GMT - European indexes were all in the red at the open, led by financial stocks. The Europe-wide Stoxx 600 index is down 0.55%, led by UBS which is around 4% lower. Germany's DAX, London's FTSE 100 and France's CAC 40 are down 0.6%, 0.7% and 0.8%, respectively. The Stoxx 600 basket of banking stocks is down 1.5%, with Deutsche Bank falling 3.35%, Societe Generale 2.2% lower and UniCredit down 2.4%. "The possibility of monetary tightening ahead and more challenging economic conditions generally...could feed through to customer loan defaults," Interactive Investor's Richard Hunter writes.
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