Energy stocks are also weaker, as the oil price comes under pressure.“European markets have opened mixed with the FTSE 100 underperforming. Land Securities, British Land and Rightmove are among the outperformers on the UK index amid hopes of a dovish tilt from the Bank of England.
Markets in Asia fell sharply overnight with the Nikkei, the Kospi and the Hang Seng down more than 2% each. In Japan its biggest banks suffered steep losses with the TOPIX Banks index down by more than 7% as President Biden’s address failed to soothe investors.Elsewhere in banking this morning, Credit Suisse’s bonds are falling after it released its delayed annual report.
Credit Suisse said customer “outflows stabilized to much lower levels but had not yet reversed as of the date of this report”