European shares into negative territory
European shares opened in negative territory on Tuesday as growth worries weighed on global markets and disappointing results from UBS added to the gloom and dragged the banking sector down.
At 0837 GMT, the STOXX 600 (STOXX) was down 0.1 percent with bourses all across Europe losing ground as a new batch for corporate updates failed to change a risk-averse mood.
Oil prices, Asian shares and U.S. equity futures also fell after the International Monetary Fund. Swiss bank UBS (S:UBSG) was down 4.7 percent after its fourth-quarter earnings sent jitters across a sector which is struggling to recover after a catastrophic 2018 during which it lost nearly 30 percent of its value.
British online financial trading company IG Group (L:IGG) was the worst overall performer on the STOXX 600, down just over 10 pecent as it reported a drop in profit as global regulators tighten rules on products that allow retail customers to make high-risk financial bets.