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Europe: Stock markets slip as Deutsche Bank falls

Monday, October 10, 2016 - 15:39
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[LONDON] European stock markets slipped lower on Monday as shares in Deutsche Bank fell, weighing on the broader European banking sector.

The pan-European STOXX 600 index was down by 0.2 per cent.

Deutsche Bank shares fell 2.6 per cent, with traders expressing disappointment at a lack of concrete progress in the company's battle against a demand by US authorities for up to US$14 billion over mis-selling allegations. Deutsche Bank shares remain down by around 50 per cent so far in 2016.

The pan-European STOXX Europe 600 bank index also fell 0.6 per cent.

However, shares in William Hill climbed 5.5 per cent after the British gambling company said it was in merger talks with Canadian online peer Amaya.

REUTERS