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Volatility dominates European bank shares as Ukraine crisis drags on -Breaking

by Mike Robinson

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© Reuters. File photo taken September 18th 2014 of Frankfurt’s skyline. REUTERS/Kai Pfaffenbach

FRANKFURT / Reuters – On Tuesday volatility was still the dominant factor in European bank shares, with some lenders that are most vulnerable to Russia jumping after suffering steep losses a day before.

Austria’s Raiffeisen Bank International shares traded 7.5% higher in the early hours, partially compensating for Monday’s 14% decline.

Following the West’s sweeping financial sanctions, the European Central Bank put Russia-related banks, including Raiffeisen, and VTB Europe under tight surveillance, according to two sources.

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