European shares hit lowest since Sept 2013 as banks extend falls

martes 9 de febrero de 2016 13:40 GYT
 

* Pan-European FTSEurofirst index ends down 1.6 percent

* Banks set for biggest weekly losing streak in 18 years

* Miners the top fallers, led by Anglo American

* Vestas gains after beating earnings forecasts (Adds detail and closing prices)

By Atul Prakash and Danilo Masoni

LONDON/MILAN, Feb 9 (Reuters) - European shares fell for a seventh consecutive session on Tuesday to touch their lowest level in more than two years as worries about the impact on banks of sustained low interest rates kept sentiment fragile.

The pan-European FTSEurofirst 300 lost 1.6 percent to close at 1,219.82 points after falling by as much as 2.6 percent to its lowest since September 2013.

The European banking index fell 4 percent, reversing earlier gains after Monday's 5.6 percent slump. The index was set for its seventh consecutive week of declines, the worst weekly losing streak since 1998, as investors fret over the threat to banks' profitability and capital strength from compressed interest rate margins.

"The mood is clearly negative. What is needed is a strong and clear message from the ECB," said Activtrades Chief Market Analyst Carlo Alberto De Casa.   Continuación...