Bank Shares Lead European Stock Drop as Greece Falls for 2nd Day
This article is for subscribers only.
European stocks snapped a five-day winning streak as declines in banks outweighed a surge in miners. Greek shares slid for a second day.
Credit Agricole SA dragged lenders to the worst performance on the Stoxx Europe 600 Index, tumbling 10 percent after signaling it failed to win backing from regulators for a reorganization that may free up capital to repay investors. Total SA and Eni SpA pulled oil-and-gas companies down, as crude traded in a bear market. BHP Billiton Ltd and Rio Tinto Group rose at least 1.6 percent, pushing commodity producers to the biggest gain on the equity gauge as some metal prices rebounded.