European shares finished in the red at a fresh six year closing low.
The region’s investors remain concerned about the health of the financial sector. There was a fresh warning from Deutsche Bank that severe economic challenges facing Central and Eastern Europe poses a threat to West European banks. Big losers included ING of the Netherlands, Belgian-French financial services group Dexia, Belgian banking and insurance group KBC, Swiss banks UBS and Credit Suisse and German insurer Allianz and France’s AXA. Pharmaceuticals and carmakers also suffered. Roche fell percent as analysts said it will likely have to increase its bid for the shares in Genentech it does not own.