MILAN, March 20 (Reuters) – Shares in European banks got here off lows in morning commerce on Monday with merchants citing dip shopping for and brief masking following heavy opening losses within the wake of UBS’s (UBSG.S) state-backed rescue of Credit score Suisse (CSGN.S).
By 1142 GMT, a gauge of European banking shares (.SX7P) was down 1.4% after earlier falling as a lot as 6%. Merchants stated losses amongst banks appeared overdone, including that feedback from European supervisors over convertible bonds additionally helped soothe nerves.
Reporting by Danilo Masoni and Lucy Raitano
: .