Weaker Italian banks push down European shares

LONDON, March 29 (Reuters) – European shares fell on Tuesday
after early gains, led lower by financials, with Italian lender
UBI Banca (UBI.MI: Quote, Profile, Research) falling more than 10 percent on its plans to
hike its capital by up to 1 billion euros ($1.4 billion).

At 0758 GMT, the FTSEurofirst 300 (.FTEU3: Quote, Profile, Research) index of top
European shares was down 0.4 percent at 1,121.45 points.

The STOXX Europe 600 banking index (.SX7P: Quote, Profile, Research) fell 0.9 percent,
while Banca Popolare Di Milano (PMII.MI: Quote, Profile, Research) fell 7.8 percent as
several Italian media said the bank could consider a capital
increase of around 500-600 million euros.

(Reporting by Atul Prakash)

Weaker Italian banks push down European shares