LONDON, Sept 16 European shares edged lower in
early trading on Friday and headed for their second straight
week of losses, with Deutsche Bank slumping after
saying the U.S. government was asking it to pay a huge amount to
settle the mortgages case.
Shares in Deutsche Bank fell 6.7 percent, the top decliner
in the pan-Europen STOXX 600 index, after Germany's
flagship lender said the U.S. Department of Justice was asking
it to pay $14 billion to settle an investigation into its
selling of mortgage-backed securities.
Royal Bank of Scotland and Credit Suisse
fell 4.8 percent and 4.5 percent respectively, pushing the
European banking index 1.5 percent lower.
The STOXX Europe 600 index fell 0.1 percent in early
trading. The index is down 1.6 percent so far this week, the
biggest weekly loss since mid-August, after falling 1.4 percent
in the previous week.
(Reporting by Atul Prakash, editing by Alistair Smout)