Markets
European shares turn lower: Italian banks fall
LONDON : European shares turned negative on Friday afternoon, with Italian banks leading the European sector lower on co
By
LONDON: European shares turned negative on Friday afternoon, with Italian banks leading the European sector lower on concerns about the effects of the euro zone peripheral debt crisis.
At 1427 GMT, the FTSEurofirst 300 index of top European shares was down 0.04 percent at 1,075.20 points. Earlier in the session, the index was as high as 1,088.79. Euro STOXX 50 volatility index rose 2.1 percent, hitting a fresh three-month high. The higher the index, the lower the appetite for risk.
Shares in Italian banks UniCredit SpA and Intesa Sanpaolo fell 5.4 and 4.7 percent respectively, as worries circulated about their capital positions and the deepening euro zone crisis.
Copyright Reuters, 2011
More Stories
Comments
Comments are closed for this article.