European banks plunge as Ukraine clashes continue

Thursday, 24. February 2022 11:59

Shares of major European banks were heavily impacted on Thursday by the escalating crisis in Ukraine, which also dragged down stock markets in the United States and in Europe, yields on US Treasuries and the Russian ruble to record lows. On the other hand, prices of precious metals and oil soared in light of the events unfolding in Ukraine.

BNP Paribas lost 8.45% at 11:36 am CET, Commerzbank fell by 7.72% at 11:45 am CET and Deutsche Bank contracted by 8.50% at 11:57 am CET. Intesa Sanpaolo dropped 7.35% at 11:21 CET, Credit Agricole declined 6.80% at 11:38 am CET and ING Groep was down 6.50% at the same time. Societe Generale plunged 10.01% at 11:39 am CET and Unicredit plummeted 9.11% at 11:19 am CET.

Related Links: Deutsche Bank AGUniCredit S.p.A.ING Groep N.V.BNP Banque Nationale de Paris Paribas S.A.Crédit Agricole S.A.Commerzbank AG
Author:
Baha Breaking News (BBN) / MS