Concerns over banks, growth drive European stocks sharply down

lunes 8 de febrero de 2016 11:40 GYT
 

* FTSEurofirst 300 index tumbles over 3 percent

* Deutsche Bank top faller among big banks

* Energy shares track weaker oil prices

* Greek stocks sink to lowest in over 25 years (Adds details, updates prices)

By Danilo Masoni and Atul Prakash

MILAN/LONDON, Feb 8 (Reuters) - European shares touched a 16-month low on Monday with investors rattled over a slowdown in global economic growth and newly concerned about the region's banking sector.

The pan-European FTSEurofirst 300 index was down 3.1 percent at 1,243.21 points by 1521 GMT, its lowest level since October 2014.

The STOXX Europe 600 banking index, down 4.7 percent, was among the top decliners. The index is down more than 22 percent so far this year on concerns about banks' profitability and capital strength in an environment where monetary stimulus continues to put pressure on margins.

The cost of insuring the European financial sector's senior debt against default also climbed to its highest level since late 2013.   Continuación...