European bank shares on course for bear market

Reuters

Apr 07, 2025

UPDATE 1-European bank shares on course for bear market

Updates with market open, recasts 1st paragraph with wider sector move

April 7 (Reuters) - An index of European banking <.SX7P shares fell 4.8% on Monday, falling more than 20% from recent closing high and leaving it on course to confirm it is in a bear market.

The decline extended into a third day as U.S. President Donald Trump's sweeping tariffs ignited fears of an all-out trade war and a global economic recession.

Together with the losses over the past two trading days, the index had fallen by more than 18% on Monday.

Germany's Commerzbank CBKG.DE, Deutsche Bank DBKGn.DE, France's Credit Agricole CAGR.PA, Societe Generale SOGN.PA, BNP Paribas BNPP.PA were all down between 9% and 10%.

Britain's Barclays BARC.L was down 9%, HSBC HSBA.L dropped around 5%.

Banking stocks elsewhere also tanked, with an index of Japanese bank stocks plunging as much as 17%.

(Reporting by Anastasiia Kozlova, Anna Pruchnicka, editing by Alun John and Amanda Cooper)

((anna.pruchnicka@thomsonreuters.com; +48 58 769 65 14;))

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+48 58 769 65 14;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1064927863.SGD","symbol_name":"JPMorgan Funds - Europe Dynamic A (acc) SGD-H","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250407:nL5N3QL0BK:1","article_id":"2525064897","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2525064897","pubTimestamp":1744010234,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"UPDATE 1-European bank shares on course for bear marketUpdates with market open, recasts 1st paragraph with wider sector move. An index of European banking <.SX7P shares fell 4.8% on Monday, falling more than 20% from recent closing high and leaving it on course to confirm it is in a bear market.The decline extended into a third day as U.S. President Donald Trump's sweeping tariffs ignited fears of an all-out trade war and a global economic recession.Together with the losses over the past two trading days, the index had fallen by more than 18% on Monday.Germany's Commerzbank CBKG.DE, Deutsche Bank DBKGn.DE, France's Credit Agricole CAGR.PA, Societe Generale SOGN.PA, BNP Paribas BNPP.PA were all down between 9% and 10%.Britain's Barclays BARC.L was down 9%, HSBC HSBA.L dropped around 5%.Banking stocks elsewhere also tanked, with an index of Japanese bank stocks plunging as much as 17%.  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