European stocks fall as banking stocks weigh (AFP)

London (AFP) - European stock markets dropped morning trading Monday, with banking sectors and lower insurance after some updates of earnings disappointing.

Benchmark FTSE 100 in London fell from 0.32% to 5,957.74 points late morning deals. DAX 30 Frankfurt allow 0.75% to 7,436.33 points and in Paris the CAC 40 index lost 0.88% to 4,022.40.

The Stoxx 50 of the largest companies in the euro area index slid 1.19% to 2,917.72 points.

Shares in HSBC fell from 1.60% to 641.3 pence after Europe's largest bank unveiled mixed earnings. Lender focused on Asia of Britain said Monday that net profit sweeping 58 percent more than 4.15 billion (€2.88 billion) in the first quarter to lower taxes and the costs of the bad debt.

However, he added that before the Group gains tax were pushed down by monte in other outstanding charges, including money set aside to compensate Britain for, customers who have been sold-developed payment of insurance protection.

Another of the major banks of Britain, Barclays, has seen its price on the part of autumn 1.31% to 273.95 pence after the announcement of plans to set aside 1.0 billion pounds sterling (1.14 billion euros, $ 1.64 billion) to compensate clients who have been developed-sold protection to the payment of insurance (PPI).

In April, the British banks had lost an appeal of the High Court against stricter regulations of PPI, which can cover refunds on the products of credit for consumers who for example lose their jobs.

In trade in Frankfurt at the same time, Munich Re shed 1.56% to 110.30 euros after the greatest the world reinsurance company has unveiled a sharp first-quarter loss on major disasters in the Asia-Pacific region. He added that the Group should always be an annual profit.

Munich Re suffered a net loss of 948 million euros ($1.37 billion) in the three months from January to late March, compared with a profit of 485 billion euros in the same period a year earlier, a statement said.

Analysts surveyed by Dow Jones Newswires had expected an even greater loss of approximately € 1.1 billion.

Japanese shares closed 0.66% Monday on concerns about shortages of potential power following an appeal by the Government to close southwest of Tokyo's Hamaoka nuclear power plant, said brokers.

U.S. stocks firmly closed Friday, powered by data showing strong job creation in the largest economy of the world.