It’s a bad day for European banks, Blackstone ends its ‘endless’ fund, and oil’s rising again. Here are some of the things people in markets are talking about today.
Euro banks hit
Struggles continue in the Italian banking sector, where at least 52 billion euros ($54 billion) is needed to clean up balance sheets, according to data compiled by Bloomberg. This is far above the scale of the rescue package proposed this week by the government, and comes amid concerns that Banca Monte dei Paschi di Siena SpA will fail in its efforts to attract 5 billion euros of private-sector funds. Shares in the embattled lender lost 18.2 percent in trading this morning. Spanish lenders’ shares were also hit — falling as much as 10 percent — after Europe’s top court ruled against the institutions on a mortgage interest-payments case that means customers may be entitled to billions of euros in compensation.