European stock markets commenced trading with mild losses on Tuesday, with banks declining the most, pulling back after six days of gains in a row. The Stoxx Europe 600 index (INDEXSTOXX:SXXP) dropped 0.1% to 279.41, after closing at the maximum level since May 2011 on Monday. The FTSE 100 index (INDEXFTSE:UKX) shed 0.1% to 5,914.60.
HSBC Holdings plc (LON:HSBA), Europe’s biggest bank, decided to pay $1.92 billion to fix US probes of money laundering in the biggest such agreement ever. Shares of HSBC Holdings dropped 0.3% after the bank reached an agreement with US authorities. [article_detail_ad_1]
The agreement comprises a deferred prosecution deal with the US Department of Justice, the London-based bank stated today in a statement. HSBC looks forward to complete an undertaking with the UK Financial Services Authority shortly, it said, without giving specifics.
In Germany, Deutsche Bank AG (FRA:DBK) (NYSE:DB) declined 0.6%, whereas Commerzbank AG (FRA:CBK) slipped 0.7%.
The supervisory board of Deutsche Bank AG, under the management of Paul Achleitner, isn’t planning to start a new investigation into claims that the bank hid billions of dollars of paper losses during the financial crisis, a person having knowledge of the matter informed Wall Street Journal Deutschland.
The DAX 30 index (INDEXDB:DAX), on the other hand, advanced 0.1% to 7,541.53, with Siemens AG shares (FRA:SIE) (NYSE:SI) higher 0.5%.
Siemens AG (SIE) will subject its variety of so-called green products that are central to its development to the same success tests as older businesses as it looks to recover returns, the manager leading the cost cuts stated.
Leave a Reply