Heurist Finance

European bank stocks slide as political turmoil lifts bond yields

Bloomberg · 5 hours ago
European bank stocks slide as political turmoil lifts bond yields
  • The Euro Stoxx Banks Index dropped as much as 4%, putting it on pace for its lowest close in roughly three months and erasing part of its year-to-date gains.
  • Every constituent in the index traded lower, including BNP Paribas, Credit Agricole and UniCredit, with Societe Generale and Deutsche Bank each falling more than 5%.
  • The decline came as mounting fears over political turmoil pushed bond yields higher, pressuring bank valuations.

Quotes

“A selloff in shares of European banks resumed on Wednesday, with the likes of Societe Generale SA and Deutsche Bank AG tumbling more than 5%, as mounting fears over political turmoil sent bond yields higher.”— Bloomberg
“The Euro Stoxx Banks Index fell as much as 4%, putting it on pace to close at the lowest level in about three months.”— Bloomberg

Sources