Ukraine tensions send European stock investors running for cover

lunes 3 de marzo de 2014 13:48 GYT
 

* FTSEurofirst 300 falls 2.2 pct, Euro STOXX 50 off 3 pct

* Volatility surges on dash for protection

* Traders expect Ukraine resolution, uptrend to resume

By Francesco Canepa

LONDON, March 3 (Reuters) - European equity investors took fright at Russia's military intervention in neighbouring Ukraine on Monday, dragging the euro zone Euro STOXX 50 index to its biggest daily fall since June.

Companies exposed to the region, such as Austria's Raiffeisen Bank International, were the worst hit.

"Investors had underestimated the risks of an escalation in Ukraine, so the events over the weekend are a wake-up call for the market," said David Thebault, head of quantitative sales trading at Global Equities in Paris.

Banks were among the top fallers, led by a 9.6 percent fall for Raiffeisen, which has the largest exposure to Ukraine among European blue chips.

Carmaker Renault and brewer Carlsberg, which have significant exposure to Russia, fell 5.4 percent and 5.3 percent, respectively.   Continuación...