European shares stumble as banks, miners, Gemalto fall

By Reuters / March 22, 2017 / in.investing.com / Article Link

LONDON, March 22 (Reuters) - European shares fell in early deals, extending losses from the previous session as basic resources stocks .SXPP and banks came under pressure.

The pan-European STOXX 600 .STOXX index was down 0.7 percent at a one-week low as global markets were hit by worries that U.S. President Donald Trump could struggle to deliver on his reflationary economic policies.

These doubts weighed on mining stocks .SXPP , with the sector falling 1.5 percent as the price of copper hit a two-week low, while banking shares .SX7P also declined, with the sector down 1.5 percent.

Dutch lender ING Groep INGA.AS was among the biggest fallers, down around 3 percent after disclosing a criminal probe which could result in significant fines. was also joined by Austrian peer Raiffeisen Bank RBIV.VI , which dropped 6.3 percent.

Individual moves higher were relatively muted, though safe-haven precious metals miners Randgold Resources RRS.L and Polymetal International POLYP.L were in demand.

The biggest individual faller was Gemalto GTO.AS , which plunged more than 22 percent.

The Dutch digital security services firm plummeted after cutting its profit forecasts, blaming a weak U.S. payments business. L5N1GZ1E2

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