MILAN, March 20 (Reuters) - Shares in European banks
came off lows in morning trade on Monday with traders citing dip
buying and short covering following heavy opening losses in the
wake of UBS's state-backed rescue of Credit Suisse .
By 1142 GMT, a gauge of European banking stocks was
down 1.4% after earlier falling as much as 6%. Traders said
losses among banks looked overdone, adding that comments from
European supervisors over convertible bonds also helped soothe
nerves.
(Reporting by Danilo Masoni and Lucy Raitano)
danilo.masoni.thomsonreuters.com@reuters.net; On Twitter ))
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