LONDON, Sept 30 European shares fell sharply in
early deals on Friday to touch their lowest level in eight weeks
as fresh concerns over the stability of Deutsche Bank
hit banking stocks.
By 0723 GMT, the pan-European STOXX 600 index was
down 1.6 percent, having touched its lowest level since early
August, as the STOXX Europe Banks index fell 3 percent,
the biggest sectoral faller. No sector was in positive
Deutsche Bank fell nearly 9 percent to below 10 euros for
the first time ever after Bloomberg reported that some hedge
funds that clear derivatives trades with the bank had withdrawn
some excess cash, a sign that counterparties are wary of doing
business with it.
In a statement on Friday, Deutsche reiterated its trading
clients remained largely supportive.
Among the few gainers, Osram rose 1 percent after
German daily Handelsblatt reported that several Chinese
companies were interested in buying the lighting company.
(Reporting by Danilo Masoni; Editing by Atul Prakash)