PARIS, Nov 12 (Reuters) - European shares dipped early on Wednesday, reversing the previous session’s small gains, with shares in HSBC and Royal Bank of Scotland falling after global regulators fined five major banks for failings in currency trading.
The regulators imposed penalties totalling $3.4 billion on UBS, Citigroup, HSBC, Royal Bank of Scotland and JP Morgan.
Shares in HSBC were down 0.4 percent and RBS was down 0.2 percent, while the Frankfurt-listed shares of JPMorgan and Citi were down 0.6-0.9 percent.
UBS bucked the trend, up 0.7 percent, with traders saying the fine was already provisioned.
At 0809 GMT, the FTSEurofirst 300 index of top European shares was down 0.1 percent at 1,358.09 points. (Reporting by Blaise Robinson; Editing by Sudip Kar-Gupta)