DR Market News Briefs

European Equities Slump in Wednesday Trading on Bank Fears


Last updated: 03/15/2023 11:06:05

11:06 AM EDT, 03/15/2023 (MT Newswires) -- European equities were sharply lower in Wednesday trading as fears of a global banking crisis spurred by the collapse of two US banks rattled investors worldwide. American depositary receipts of European stocks tumbled 3.66% to 1,090.17 on the S&P Europe Select ADR Index.

In continental Europe, the only gainers were furniture maker Natuzzi (NTZ) and 3D printer voxeljet (VJET), which rose 7.4% and 0.5% respectively.

The decliners in continental Europe were led by Credit Suisse Group (CS) and Banco Bilbao Vizcaya Argentaria (BBVA), which fell 18% and 10% respectively. They were followed by ING (ING) and Banco Santander (SAN), which lost 9.7% and 8% respectively.

In the UK and Ireland, there were no gainers.

The decliners in the UK and Ireland were led by insurer Prudential (PUK) and software firm Endava (DAVA), which lost 12% and 8% respectively. They were followed by Barclays (BCS) and Shell (SHEL), which dropped 7.6% and 6.4% respectively.

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