Euro zone banks set for worst day in two years, down 9.5%

Reuters
2022.03.07 08:59
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LONDON, March 7 (Reuters) - Euro zone bank stocks fell sharply on Monday and were set for their worst day in two years as U.S. and Europe mulled a Russian oil import ban triggering more economic growth concerns while raising the prospect of even higher inflation.

LONDON, March 7 (Reuters) - Euro zone bank stocks fell sharply on Monday and were set for their worst day in two years as U.S. and Europe mulled a Russian oil import ban triggering more economic growth concerns while raising the prospect of even higher inflation.

The euro zone bank index (.SX7E) tumbled to a 13-month low and was on track for its worst day since March 2020, down 9.5% at 0855 GMT.

Shares in UniCredit (CRDI.MI) , Commerzbank (CBKG.DE) , Deutsche Bank (DBKGn.DE) , Raiffeisen (RBIV.VI) , Bank of Ireland

(BIRG.I) and Societe Generale (SOGN.PA) all fell more than 10%.

The index has shed 37% in less than one month, after climbing to its highest since 2018 in February.

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