Wednesday, May 18, 2022

European bank stocks suffers brief dip after U.S. jobs data

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LONDON (Reuters) – European shares briefly extended losses with a widely watched gauge of banking shares dipping 1% after data showed U.S. jobs growth in August missed estimates by a wide margin, fuelling fears that bets of a robust economic recovery may be overdone.

The weakness in U.S. data rippled across markets with non-dollar currencies – including the British pound and the Australian dollar – perking up in late London trading.

Bitcoin rose to its highest since mid-May, up around 3% at $50,745.

(Reporting by London Markets Team; Editing by Karin Strohecker)


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