Europe stocks log worst week of the year as Credit Suisse rattles sentiment
Publishing timestamp: 2023-03-17 13:14:42
Summary
European stocks closed lower on Friday, ending a turbulent week for the banking sector. Despite announcements of financial help for Credit Suisse and First Republic Bank, the pan-European Stoxx 600 index closed 1.26% lower, with losses for the week at 3.9%, the worst performance since September 2022. Banks led losses with a 2.6% fall, followed by financial services, down 2.1%. Short-sellers are sitting on nearly $2 billion in profit from bets against the European banking sector this month so far.
Sentiment: NEGATIVE
Tickers: .FTSE, FRC, .DJI, .IXIC, .FCHI, BARC-GB, SWED.A-SE, .STOXX, CBK-DE, HSBA-GB, SAN-ES, DBK-FF, .GDAXI, .SPX, CSG.N-CH,
Keywords: markets, cac 40 index, barclays plc, banks, investment strategy, commerzbank ag, banco santander sa, stoxx 600, ftse 100, business news, hsbc holdings plc, dax, deutsche bank ag, wall street, swedbank ab, credit suisse group ag, s&p 500 index,
Source: https://www.cnbc.com/2023/03/17/european-markets-open-to-close-earnings-data-and-news.html