European shares fall as Commerzbank slumps to record low

martes 2 de agosto de 2016 12:49 GYT
 

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets) Adds details, updates prices)

* Pan-European STOXX 600 index down 1.3 pct

* Commerzbank hits record low after warning

* Banking index worst sectoral performer

* Eurofins, Campari touch record higher on strong results

By Atul Prakash

LONDON, Aug 2 (Reuters) - European shares slid to a three-week low on Tuesday as some major companies reported poor results, with Commerzbank dropping to a record to lead banks lower after warning its earnings would fall this year.

Commerzbank fell 9.2 percent after saying its profits would suffer because businesses are borrowing less and negative interest rates are hurting its revenue.

In addition, investors are worried about its capital position after last week's European Union bank stress tests. Commerzbank was one of the 12 weakest banks among the 51 tested by the European Banking Authority.   Continuación...