Shares of banks and other financial institutions fell sharply as an Israeli attack on Iran threw many investors' assumptions into doubt.
The Federal Reserve's policy decision next week could be complicated by the spike in oil that followed the attack. Consolidation of European banks was set to continue.
French lender Groupe BPCE agreed to buy Novo Banco from majority owner Lone Star in the latest cross-border European banking deal, which values the Portuguese lender at roughly $7.41 billion.
In Italy, Mediobanca recently launched a bid to take over rival Banca Generali for about $7.24 billion, the latest in a series of deals there.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-13-25 1722ET
