European stock markets closed down today due to fears over European banks. In London the FTSE 100 was -0.98% and Milan closed at -0.97%. In Paris the CAC40 lost 0.83% and Frankfurt fell 0.38%. Athens lost 2% and Madrid 0.55%. French banks performed particularly badly and after its downgrading BNP lost 2%.
Credit Agricole (-4. 7%) and SocGen (-4%) did even worse. British banks lost ground too after a request from London, Paris and Berlin to tax banks.