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Bank Stocks plummet on the open

EQUITIES
  • So a gap lower for Bank stocks, with SX7E down 2.5% and through Yesterday's low on the Cash open.
  • Most will look at 109.42 the August low for support.
  • Italy Banks tax is the main driver and Unicredit is down 6.5% and Intesa 7% on the open.

Chart source: MNI/Bloomberg

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