European shares fall as UniCredit leads banks lower after tests
* Pan-European STOXX 600 index down 0.6 percent
* Banks led lower by UniCredit, Raiffeisen
* But Italian lender Monte Paschi outperforms
* Heineken down after results, Legrand up
By Danilo Masoni
MILAN, Aug 1 (Reuters) - European shares closed lower on Monday, dragged down by banks such as UniCredit and Raiffeisen that performed poorly in a Europe-wide stress tests.
The pan-European STOXX 600 and the FTSEurofirst 300 index both closed 0.6 percent weaker.
The STOXX 600 banking index fell 1.8 percent, reversing earlier gains and giving back a rally seen in the previous days as enthusiasm for the results of the stress test, which delivered little negative surprises, was short-lived.
Austrian bank Raiffeisen, which emerged among the four worst perfomers in the tests along with Monte dei Paschi, Banco Popular and UniCredit, fell 5 percent. Continuación...