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European shares down as banking stocks lose ground

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European stocks fell on Wednesday, led lower by a drop in the shares of major banks, as Britain’s vote to leave the European Union weighed on markets.

The pan-European STOXX 600 and the similar FTSEurofirst 300 index were both down by 0.5 per cent.

The STOXX Europe 600 banks index fell 1.2 per cent, with shares in Spain’s Caixabank down 1.8 per cent after Caixabank warned it expected a 1.25 billion euro (£1.07 billion) hit related to mortgage clauses.

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Paul

The author Paul