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The American fund giant Capital Group seems to be the driving force behind a series of block sales in three major European banks. Several major European banks will receive a heavy blow on the stock market on Tuesday.
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Several major European banks suffered sharp losses on the stock market on Tuesday. Deutsche Bank
gets a tap of 8.3 percent, Commerzbank
yields 8 percent.
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The Capital Group’s colossal EuroPacific Growth fund seems to be the culprit. The US fund giant appears to be the driving force behind more than $3 billion in block sales in major European financial institutions in recent weeks. Bloomberg writes. Previously, the American fund house was also mentioned as the anonymous seller who dumped a large package of Barclays stock.
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