Europe banks lose 40b euros in value as Greece shuts lenders
Stoxx 600 Banks Index down as much as 4.4%, the biggest intraday decline since November 2011
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Milan
EUROPEAN banks slumped the most since 2011, erasing more than 40 billion euros (S$60 billion) in market value, after Greece imposed capital controls and shut lenders.
The Stoxx 600 Banks Index fell as much as 4.4 per cent, the biggest intraday decline since November 2011, with all 46 members declining. Lenders in Italy, Portugal and Spain were among the biggest decliners, led by Banco Comercial Portugues.
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