Banks test hits Italian, some German banks - Tri-State News, Weather & Sports

Banks test hits Italian, some German banks

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 also were shown to be shaky, though they passed the main test.

Those were among the takeaways Monday, when markets got a first chance to react to the results published Sunday. Of 130 big European banks, 25 flunked tests of financial strength - 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 the data suggested they are also not in top financial health.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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