MW: European markets turn lower as bank stocks drop
By Simon Kennedy
LONDON (MarketWatch) -- European stock markets turned slightly lower Wednesday, surrendering strong gains seen earlier in the session as sovereign debt worries pushed many bank stocks into the red. Shares in French, Italian and Spanish banks were among the worst hit, with BNP Paribas SA [d: fr:bnp] dropping 7.4%. The Stoxx Europe 600 index XX:SXXP -0.56% fell 0.2% to 231.66, having risen as much as 2% earlier in the day. The French CAC 40 index FR:PX1 -1.62% fell 1.4% to 3,132.17, the U.K. FTSE 100 index UK:UKX -1.31% was broadly flat and the German DAX 30 index DX:DAX -0.57% rose 0.3% to 5,934.98. The reversal for European markets came as U.S. stock market futures also extended their fall.
