You are here: Home - Investing -

Bank shares suffer as European indices slide 2%

Written by:
European financials are among the day’s biggest fallers as benchmark French and German indices struggle amid intensifying geopolitical concerns.

The German Dax and French CAC40 were down by more than 2% apiece this afternoon as investors digested the prospect of possible Western military action in Syria.

Financials bore the brunt of the selling, with Germany’s Commerzbank and Deutsche Bank down 4.8% and 3.6% respectively to push European indices to one-month lows.

That was followed by the S&P 500 opening down 0.8% in the US at 1,642, within touching distance of a seven-week low.

In the UK, the FTSE 100 made back some of its earlier losses to stand 0.6% lower at 6,453 by mid-afternoon.

But benchmark bond yields fell back as investors turned more cautious.

Ten-year UK gilt yields fell from 2.73% to 2.58%, with US treasury prices rising as ‘risk-off’ attitudes returned.

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Autumn Statement: Everything you need to know at a glance

Yesterday Chancellor Jeremy Hunt made his first fiscal statement in the role, outlining a range of tax measure...

End of Help to Buy: 10 alternatives for first-time buyers

The deadline for Help to Buy Equity Loan applications passed on 31 October. If you’re a first-time buyer who...

Moving to an energy prepayment meter: Everything you need to know

As households struggle with the soaring cost of energy, tens of thousands of billpayers are expected to move o...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week