Banks Lead Europe Stocks Lower in Worst Start to Year Since 2009
- Stoxx 600 has stalled after 14% rebound through March 14
- Commodity producers are the only group that rose this quarter
Finding a Way Forward for the Global Banking Industry
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European stocks extended their third quarterly drop in four to wrap up what has been the worst start to a year since the financial crisis.
Lenders helped drag the Stoxx Europe 600 Index down 1.1 percent at the close of trading, trimming its monthly gain to 1.1 percent. After rebounding 14 percent in five weeks through March 14, the gauge’s advance has stalled, putting its quarterly drop at 7.7 percent. That’s the worst first-quarter performance since 2009, with all but one of 19 industry groups falling.