FLIY - European markets in red; Italian banks fall after windfall tax approved

2023-08-08 04:13:30 ET

London -0.27%

Germany -0.37% Germany's inflation rate drops to 6.2% in July

France - 0.31% France June trade balance -€6.71 billion vs -€8.00 billion expected .

Shares of Italian banks took a hit on Tuesday after Italy’s cabinet approved a 40% windfall tax on lenders’ profits for the remainder of 2023.

The pan-European Stoxx 600 edged -0.26% lower, with basic resources shedding to lead losses as most sectors and major bourses traded in the red.

Coming up in the session: No other major European events for the day. Investors eye key inflation numbers from China and U.S.

In the bond market, the U.S. 10-year Treasury yield was down 6 basis points to 4.02%.

Germany's 10-year yield was down 9 basis points to 2.47%.

U.K.'s 10-year yield was down 9 basis points at 4.37%.

Currencies: ( EUR:USD ) ( GBP:USD ) ( CHF:USD )

ETFs: ( EWG ), ( GF ), ( EWI ), ( EWQ ), ( EWGS ), ( FGM ), ( DBGR ), ( DXGE ), ( HEWG ), ( DAX ), ( FLFR ), ( FLGR ), ( FLIY ), ( FXB ), ( EWU ), ( FKU ), ( EWUS ), ( HEWU ), ( FLGB ), ( GREK )

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