European Stocks Fall as Post-Brexit Recovery Stalls

LONDON (Reuters) -
Traders work at their desks in front of the German share price index, DAX board, at the stock exchange in Frankfurt, Germany, June 28, 2016. REUTERS/Staff/Remote
Traders work at their desks in front of the German share price index, DAX board, at the stock exchange in Frankfurt. (Reuters/Staff/Remote)

European shares fell on Thursday, stalling attempts to recover from a heavy sell-off caused by Britain’s vote to leave the European Union last week, as shares in major banks lost ground.

The pan-European STOXX 600 index and the similar FTSEurofirst 300 index both fell by 0.6 percent.

Britain’s benchmark FTSE 100 retreated by 0.3 percent while Germany’s DAX fell 0.5 percent.

Banking stocks were among the worst performers.

Shares in Deutsche Bank and Santander fell after their U.S. units suffered the ignominy of failing U.S. stress tests yet again this year, while a Morgan Stanley downgrade also hit Royal Bank of Scotland.