No Need for Concern on Europe Banks: EC’s Dombrovskis

European Commission Vice-President Valdis Dombrovskis has moved to reassure jittery investors, claiming Thursday that there was no need to be particularly concerned about the volatility seen in recent weeks in the European banking sector.

European banks have lost about a quarter of their market value since the start of the year and are looking badly bruised as concern over provisions for bad debts and the banks’ exposure to the energy sector loans grows.

Chief executives have been trying hard to reassure investors that there is nothing to fear. Shares in other sectors, such as those in the energy sector and those exposed to China, have sold off globally as falling oil prices and slowing growth in China conspired to make the start of 2016 the worst on record on Wall Street.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.