The fears of the markets on bank stocks return, Deutsche Bank collapses. European stocks down

All the most important squares of the Old Continent, with negotiations open, are in red. The situation in the banking sector weighs heavily, with Deutsche Bank reaching -15% in the morning, before recovering to -10%, reaching its lowest since October 2022

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Negative day for the European stock exchanges, which go into the red following the collapse of the banks. None of the largest squares in the Old Continent are saved: Milan (-2.5%), Madrid (-2.6%), Frankfurt (-2.2%), Paris (-2.1%) and London (-1.9%). The lists are not only weighed down by banks (-5.3%), but also by energy (-4.2%), with oil in a nosedive.

The banks

The biggest slide in the banking sector for now is that of Deutsche Bank, which in the morning has already collapsed up to -15% and then recovered to -10%, to 8.06 euros. The shares of the German bank thus reached their lowest level since October 2022. In Zurich, UBS and Credit Suisse fell after the news that the US Justice Department is investigating whether or not they have helped Russian oligarchs evade sanctions. UBS dropped 7.6% to 16.53 Swiss francs and Credit Suisse was down 8.3% to 0.7 francs. In Italy, Banco Bpm, Mps and Bper lose more than 6%, Unicredit 5.1% and Intesa 4%.

Asian Stock Exchanges

Even in Asia, where the situation is better, the stock markets closed generally weak, weighed down by the negative performance of the financial sector. Slight declines for Tokyo (-0.13%) and Seoul (-0.4%), conflicting indications from China (the Shanghai Composite index dropped by 0.64%, slipping to 3,265.65 points, while that of Shenzhen rose by 0.25%, reaching 2,116.77). Better Mumbai, at +0.2%.