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European shares fall


European shares fall


European shares have fallen to their lowest level in three weeks after data showed an unexpected fall in the sales of new homes in the United States .

In the FTSE 100, shares were down more than 2%. Banks were among those taking the biggest points off the index. Banco Santander, the euro zone’s biggest bank by market value, fell more than 3% after it posted a decline in nine-month net profit. BNP Paribas, HSBC and UBS also all fell between 1 and 4% Concern continues that the market got ahead of itself and the seven-month rally in equities has outpaced the prospects for economic growth.

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