Banks lead Europe stocks down

Financials dragged down European equity indices this morning, with Muenchner Rueckversicherung, Germany’s largest reinsurer, down almost 6%, followed by nearly 3% declines in Deutsche Bank and Banco Bilbao. With the European Central Bank stuck on hold in the course of Europe’s dicey political cycle, the negative-to-low interest rate environment is a drag on the financials. […]