Shares of major European banks fell Monday after reports were released that they continued to do business with clients suspected of money laundering and other wrongdoing.
The report, led by Buzzfeed News and including other media outlets around the world, was based on what are called suspicious activity reports submitted by banks to the U.S. Treasury, which had been collected for Congressional investigators to review the 2016’s President Donald Trump campaign. Banks by law are not authorized to comment on the communications they present.
shares fell 4% as his money laundering vulnerabilities were known to his executives, according to the Buzzfeed report. Deutsche Bank said it learned from past weaknesses and said “we are a different bank now.”
accused of doing business with a money laundering company for the Taliban, it fell by 3%. The London-based Asia-centric bank said: “The US and UK authorities have publicly acknowledged that the Group has undergone a complete and positive transformation in recent years.” Barclays
and HSBC Holdings
were also mentioned in the report, as were several US banks.
The wider Stoxx Europe 600
and French CAC 40
he also fell.
US Stock Futures
fell, with futures on the Dow Jones Industrial Average
lose 340 points. Last week, the high-tech Nasdaq Composite
it fell by 0.6%, while energy and industrial stocks rose.
On the move in Europe were shares of the engine manufacturer Rolls Royce
which on Friday said it was considering raising up to £ 2.5 billion in new equity.
shares plummeted by more than 20% after Telefonica Deutschland
said in the negotiations it would increase wholesale costs. United Internet said it appealed to the European Commission on the matter.