European stocks close flat as sentiment remains wary; Deutsche Bank down 1.6%
Publishing timestamp: 2023-03-28 11:54:55
Summary
European stock markets closed mixed on Tuesday, with investors seemingly in holding pattern after serious bout of market volatility. Banks saw an uptick, restoring gains from earlier in the session, with Credit Suisse climbing 0.7% and UBS up 1.7%. Deutsche Bank regained some earlier losses but still closed 1.6% lower following recent volatility. Investors were beginning to reassess the view that interest rate hikes are good for banks because they mean higher net interest margins, instead factoring in that sharp rate rises would hit the weakest links of the economy, where banks may "pay the price." Factors keeping nerves on edge include U.S. Treasury Secretary Janet Yellen's statement last week that she cannot give a blanket guarantee for all bank deposits; perceived vulnerabilities in the U.S. corporate real estate sector, where 80% of loans are held by regional banks; and UBS and Credit Suisse facing a U.S. Justice Department probe.
Sentiment: MIXED
Tickers: .FCHI, 8306.T-JP, CSG.N-CH, DBK-FF, DB, MQG-AU, CBA-AU, UBS, UBSG-CH, ENOG-GB, .FTSE, .DJI, WBC-AU, 8411.T-JP, 8316.T-JP, .STOXX, .FTMIB, .GDAXI, .SPX, NAB-AU,
Keywords: ubs group ag, energean oil & gas plc, business news, credit suisse group ag, stoxx 600, economic events, breaking news: europe, deutsche bank ag, united states,
Source: https://www.cnbc.com/2023/03/28/european-markets-live-updates-stocks-news-earnings-and-data.html