European shares slip, possible fine on Italy hits bank stocks [Reuters]
PIRAEUS FNL HLD S/ADR (BPIRY)
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Source: Reuters
European shares slip, possible fine on Italy hits bank stocks (Reuters) - European shares dipped on Tuesday, with bank stocks capturing investors’ attention as concerns about a possible fine on Italy due to the indebted country’s yawning budget deficit exacted a heavy toll on risk sentiment. The pan-region STOXX 600 fell 0.2%, with banks shedding 0.4% and chemicals stocks declining 1%. London-listed shares edged down as they traded for the first time this week, while Germany’s DAX ended 0.4% lower, matching the decline in Paris-traded equities. Milan-traded stocks slid 0.5%, with the country’s deputy prime minister saying the European Commission could slap a 3 billion euro ($3.35 billion) fine on the country for breaking EU rules due to its rising debt and structural deficit levels. Matteo Salvini’s comments sent yields on Italy’s bonds broadly higher while pushing the country’s banking stocks in the other direction. Italy’s banking index dropped 1.2% to its lowest closing level since
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