BUZZ-European banks get caught up in US banking sector worries
European bank shares plummeted on Friday, driven by concerns over the U.S. banking sector. The STOXX Europe banks index fell 2.6%, reaching its lowest point since early September. Major lenders like Deutsche Bank, Barclays, and UniCredit saw declines of 3% to 6%. Societe Generale and BNP Paribas dropped around 4%, while Sabadell fell 6% following a failed bid by BBVA, which saw a 7% increase in its shares.
Shares in European lenders fall sharply on Friday, as worries about U.S. regional banks spill over
STOXX Europe banks index (.SX7P) is down 2.6% at 0710 GMT, falling to its lowest since early September and the most among other indexes on STOXX 600 (.STOXX)
Almost all of the region’s biggest lenders are in the red, including Germany’s Deutsche Bank (DBKGn.DE) , Barclays (BARC.L) , Italy’s UniCredit (CRDI.MI) are down between around 3% and 6%
France’s Societe Generale (SOGN.PA) and BNP Paribas (BNPP.PA) fall around 4% each
Spain’s Sabadell (SABE.MC) falls 6% after BBVA (BBVA.MC) bid failed, BBVA itself jumps 7%
