Most European stock markets closed Monday in low, bad data on British industry after the vote Brexit and new doubts about the situation of banks.
the Footsie 100 index of the London Stock Exchange fell 0.45% after the release of an index showing that industrial activity in the UK is at its lowest level . in more than three years
the industrial data also showed signs of weakness and weighed the values of the euro zone: Frankfurt the DAX 30 ended the session almost stable (-0.07%), but the Paris CAC 40 was down 0.69%, the FTSE Mib in Milan 1.73% and Madrid Ibex 35 of 0.86%.
According to analysts, the results also reflect concerns . by banks on Friday after the publication of stress tests of 51 institutions to potential crises
These tests revealed that the least prepared for such contingencies is Italian Banca Monte dei Paschi (Milan: BMPS.MI – news) di Siena (BMPS).
bank shares rebounded however that Monday 0.58%, thanks to a program presented by the institution few hours before the release of the ‘stress tests’. But concerns were concentrated in UniCredit (EUREX: DE000A163206.EX – news)., Which slumped 9.40%
According to analysts, the bank needs a capital injection of several billion euros and the Italian press mentions the possibility of the conduct of further transfers of assets to strengthen its capital. UniCredit fell off and 10% of its online subsidiary FinecoBank (MDD: FBK.MDD – news). And 10% of its Polish subsidiary Bank Pekao
The French bank Societe Generale fell 3 , 67%. In Germany, Deutsche Bank (London: 0H7D.L – news) fell by 1.83% and Commerzbank (Xetra: CBK100 – news). 2.22%
“Initially, investors positively analyzed these tests. But concerns reemerged quickly, related to the ability of some banks to recapitalize, “said Daniel Larrouturou, Diamant Bleu Gestion.
” the relief that most European banks has he survived the stress tests helped a good start of the session, but gains began to fade (…) after disappointing data from the UK and EU, “said meanwhile Jasper Lawler, from consultancy CMC Markets (London: CMCX.L – news).
“it seems that fears about the Brexit are not passengers,” he added, referring to the June 23 referendum, in which the British pronounced . in favor of leaving the European Union
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