European stocks snapped a five-day winning streak as declines in banks outweighed a surge in miners. Greek shares slid for a second day.
Credit Agricole SA dragged lenders to the worst performance on the Stoxx Europe 600 Index, tumbling 10 percent after signaling it failed to win backing from regulators for a reorganization that may free up capital to repay investors. Total SA and Eni SpA pulled oil-and-gas companies down, as crude traded in a bear market. BHP Billiton Ltd and Rio Tinto Group rose at least 1.6 percent, pushing commodity producers to the biggest gain on the equity gauge as some metal prices rebounded.
The Stoxx 600 retreated 0.2 percent to 398.75 at the close of trading, after earlier losing as much as 0.6 percent. Italy’s FTSE MIB Index and Spain’s IBEX 35 Index dropped 1 percent.
Greece’s ASE Index, which plummeted 16 percent on reopening Monday after a five-week suspension, lost 1.2 percent, for the biggest drop among western-European markets. The emergency curbs placed on trading before the resumption of activity are making routine tasks like buying and selling often impossible, according to local brokers.
Piraeus Bank SA tumbled the maximum 30 percent for a second day, to record low. National Bank of Greece SA slid 29 percent, also to a new low.