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Flash: Europe banking shares collapse on mortgage problem

Posted Sep 14th 2007 7:12AM by Douglas McIntyreDouglas McIntyre RSS Feed
Filed under: Bad News


A government bail-out of UK mortgage bank Northern Rock sent Europe banking shares sharply lower and set similar trouble for US bank shares. Northern Rock was down 27% on news that the Bank of England had to supply it emergency funding.

Barclays was off 3.2% Commerzbank fell almost 5%. BNP Paribas and Societe Generale were of about 3.5%.

Tags: Barclays, BNP Paribas, BnpParibas, Commerzbank, Northern Rock, NorthernRock, Societe Generale, SocieteGenerale

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Last updated: February 10, 2012: 05:33 AM

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