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Shares in Europe are down for the fourth session and banks are leading losses

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rocky
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Shares in Europe are down for the fourth session and banks are leading losses

Post by rocky on Tue 30 May 2017, 5:53 am

Shares in Europe are down for the fourth session and banks are leading losses

economy From 2017-05-30 at 12:23 (Baghdad time)

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European stocks fell in early trade on Tuesday and all major sectors fell, but banks led losses due to political tensions.
The STOXX 600 index of European shares fell 0.6 percent, while the leading index in the euro zone fell 0.7 percent and the British Financial Times 100 index also fell after resuming its activity after a long holiday.
Banks topped the list of losing sectors, down more than 1 percent after Deutsche Bank cut its rating to the sector to "reduce the relative weight of the portfolios."
German bank strategists said the sector was one of the sectors most sensitive to euro-zone growth volatility, which they expect to fade.
Italian banks, which had tumbled over the previous two sessions on fears of early elections, were among the biggest losers on Tuesday. Shares in UniCredit fell more than 2 percent.
In the UK, British airline AIG fell 4 percent on the first day of trading after a major disruption to flights due to technical failure.
Germany's DAX <.DXI> was down 0.36 percent and France's CAC 40 <.CASE> was down 0.97 percent


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