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Credit Suisse, Deutsche index exclusion another blow to European banks

A man enters the Credit Suisse offices in the Manhattan borough of New York City, U.S. July 5, 2016.

Two of Europe's biggest banks - Credit Suisse (CSGN.S) and Deutsche Bank (DBKGn.DE) - will be dropped from an index of Europe's top 50 blue-chip companies next week in a further blow to the embattled sector.

For Deutsche Bank, it will be the first time since 1998 that it will no longer be a member of the STOXX 50 .STOXX50.

Shares of both were firmly in the red on Tuesday, with Credit Suisse down more than 5 percent and Deutsche off 3.5 percent.

The decision by STOXX Ltd, which manages Europe's top benchmark stock indexes, came following a near halving in value of Credit Suisse...


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