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| UK Market Update Archive: |
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European Banks, UK Home Builders Fall
Jul 04, 5:20 PM EDT |
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| European banks and UK home builders closed sharply lower on the worries that additional capital may be difficult to raise. |
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| European stocks closed lower after crude oil traded at another record high and prospect more capital raising from European banks. Benchmark indexes in UK, France, Germany and Switzerland fell. Swedbank dropped 6% and Banco Santander lost 4%. Banks may need as much as $90 billion to meet their required capital reserves. UK stocks fell after a private equity fund decided not to proceed with investment in home builder Bradfod & Bingley. |
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