Europe Stocks Fall After Two Days of Gains
June 30 2016 - 4:40AM
Dow Jones News
European stocks fell early Thursday, following a two-day
bounceback in risk assets around the world.
The Stoxx Europe 600 was down 0.9% in early trade after posting
its largest two-day gain since February.
The banking sector led losses, down 1.6%. The U.S. banking units
of Deutsche Bank AG and Banco Santander SA failed the Federal
Reserve's annual stress tests, while the International Monetary
Fund Wednesday named Deutsche Bank as the riskiest financial
institution in the world as the potential to be the source of
external shocks to the financial system.
Earlier, stocks in Japan and Shanghai closed little changed,
while Hong Kong's Hang Seng Index added 1.4%. Australia's S&P
ASX 200 rose 1.8%, led by energy and mining shares.
Thursday's moves followed two days of steep gains on Wall Street
and around the world, as stocks rebounded from major losses in the
aftermath of the U.K.'s surprise vote to exit the European
Union.
The pound was flat against the dollar at $1.3436.
In commodities, Brent crude oil fell 0.7% to $50.95 a barrel
after oil prices posted their biggest gain in over two months. Gold
was down 0.7% at $1,317 an ounce.
Write to Riva Gold at riva.gold@wsj.com
(END) Dow Jones Newswires
June 30, 2016 04:25 ET (08:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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