European shares lose up to 1% after opening higher . Sentiment gradually soured throughout the day. S&P downgrading several Italian banks and profit taking after an impressive 3‐day bull run can explain the move. S&P downgraded 18 Italian banks saying that economic prospects in Italy are likely to be weaker than previously anticipated, which will erode banks’ asset quality and profitability and may lead to high credit losses over the next two years. German consumer confidence is set to
Reported by FXstreet.com 14 hours ago.
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