European stock markets closed lower today, extending the losses of the previous session, pressured by bad balance sheets, such as that of Glencore, whose profit fell by half because of the drop in demand in China.
The weak data of the Chinese trade balance, published at dawn, also pressured the main indices.
Bank shares fell across the board after Moody’s cut the credit ratings of regional US banks and Italy announced a surprise 40% tax on the profits of the country’s financial institutions.
Shares in Intesa Sanpaolo and Unicredit fell nearly 6%. BNP Paribas, Deutsche Bank and Santander fell more than 3%.
In London, shares in Barclays fell 1.2%, while Lloyds and HSBC fell 0.5%.
Frankfurt -1.10%; London -0.36%; Paris -0.69%; Madrid -0.73%; Stoxx 600 -0.24% (458.57)
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