European Banking Shares Crash On The Morning’s Trade [View All]

Source: Investment Markets

Shares in banks and lenders across Europe have suffered heavily over morning trade, as a result of the ongoing sub-prime crisis and the condition of UK lender Northern Rock.

The impact of the perceived spreading sub-prime crisis has led to investors selling shares in banks across most major European countries over the course of the morning, for fear that the problems could continue to get worse before they get any better.

Northern Rock announced today that several Spanish banks had also been required to seek emergency funding from the European Central Bank highlighting the wider nature of the problem, although it refused to disclose any details, and the ECB strongly denies the claim.

Additionally, banks across Italy and France suffered through the mornings trade as investors continued to offload shares in those with potential sub-prime exposure for fear of further liquidity problems in finance sectors.

Northern Rock shares again plummeted, down by almost 40%


Read more: http://www.investmentmarkets.co.uk/20070917-875.html