LONDON Oct 3 European shares dipped lower on
Monday, as banking stocks retreated from a late rally in the
previous session as concerns over Deutsche Bank and
Italian banks lingered.
The pan-European STOXX 600 index was down 0.1
percent, with the STOXX Europe 600 bank index falling
Although Deutsche Bank's main German-listed shares were not
trading due to the German stock market being closed for a public
holiday on Monday, the company's woes remained at the forefront
for many investors.
Deutsche Bank is throwing its energies into reaching a
settlement before next month's presidential election with U.S.
authorities demanding a fine of up to $14 billion for
mis-selling mortgage-backed securities.
However, some traders said Deutsche Bank's shares - which
closed up 6.4 percent in Frankfurt on Friday - would remain
under pressure while there was no deal.
Shares in Italian banks also slipped as the
country's economy minister looked to discuss stalled efforts to
sell four small banks that were rescued from bankruptcy last
year, sources said.
(Reporting by Sudip Kar-Gupta; Editing by Andrew Heavens)