Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.
BREAKING NEWS

Financials pull down European shares

 Financials pull down European shares
Euronews logo
Text size Aa Aa

European shares ended the day substantially lower tracking Wall Street as US banks Morgan
Stanley and Fifth Third Bancorp disclosed further credit-related problems. Financials led the decline, with Royal Bank of Scotland down 5%, UBS 4% and Santander 2.3%.

Sliding crude prices hit the energy sector – BP fell two per cent – though ironically airline shares slumped after downgrades related to the high cost of oil.

Sainsbury’s, Britain’s third largest supermarket chain, lost 3.7% after saying sales growth slowed in the first quarter as higher living expenses in Britain cut into consumer spending on food and clothes.