European shares fell on Tuesday to their lowest in nearly a week, with Deutsche Bank and Commerzbank shares falling following a big stake sale, while investors awaited US inflation data.
The pan-European Stoxx 600 index fell 0.9 percent, with the banking sector the biggest loser.
Deutsche Bank fell 9.8 percent and Commerzbank 8.4 percent following an unidentified investor sold stakes of more than 5 percent in the two banks.
The appetite for stocks fell as US bond yields rose ahead of inflation data expected to show the consumer price index in the world’s largest economy rose by the most in four decades.
Shares of luxury companies affected by China fell, with Louis Vuitton and Hermes shares down between one and two percent, as China faces the worst outbreak of Covid-19 in two years. Shares in the Italian defense group Leonardo rose 3.5 percent.
(Archyde.com)