Business & Finance
European bank shares hit 29-month low
LONDON : European bank shares fell sharply on Monday to hit their lowest level in 29 months, on worries that a US regu
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LONDON: European bank shares fell sharply on Monday to hit their lowest level in 29 months, on worries that a US regulator was suing several banks over the selling of toxic mortgage debt and the US was heading to a recession.
By 0956 GMT, the STOXX Europe 600 banking index was down 4.8 percent to 131.65 points, its lowest level since April 2009.
Among the top losers in the banking sector were Royal Bank of Scotland, Societe Generale, Credit Suisse and Deutsche Bank, all of which were down between 7.5 percent and 8.2 percent.
Copyright Reuters, 2010
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