European stocks are in red zone

Market news

19 August 2013

European stocks are in red zone

European stocks fell, investors awaited Wednesday’s release of minutes from last month’s Federal Open Market Committee meeting.

Shares of Glencore Xstrata lost 1.6% after Reuters reported the mining company may write down as much as $7 billion of inherited Xstrata assets when it reports results this week.

Lenders Drop after Bank of Spain data showed that Spanish banks' bad loans rose to a fresh high of 11.6% in June vs 11.2% in May. Shares of Banco Santander SA -1.4%, UBS -1.7%, UniCredit SpA -3.6%, Banco Popolare SC -3.9%.

Currently:

FTSE 6,489.5

Orders

Bank of Spain data showed That Spanish banks' bad loans rose to a fresh high of 11.6% in June vs 11.2% in May

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