Oct 27, 2014 7:44 AM
Banks test hits Italian, some German banks
The Associated Press
FRANKFURT, Germany (AP) Italian bank shares led a broad drop in European financial stocks as investors sifted through the masses of data released in Europe's far-reaching review of banks.
Several German lenders fell short of the toughest measure of financial strength, though they passed the main test.
Those were among the takeaways Monday as markets got a first chance to react to Sunday's results. Of 130 big European banks, 25 flunked the review and nine of those were Italian.
Shares in Italian bank Monte dei Paschi di Siena sagged 18 percent before they were suspended. It had the biggest capital shortfall, 2.11 billion euros.
Meanwhile, Germany's HSH Nordbank, DZ Bank and WGZ Bank passed the basic test but fell short on a tougher measure that will be phased in in coming years.