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Europe markets pull back on FX settlement after Japan stocks climb

By Lionel Laurent LONDON (Reuters) – European shares and core bond yields fell on Wednesday, bucking a strong performance in Japan, with bank stocks under pressure following a landmark $3.4 billion settlement over allegations of price-fixing in currency markets. The pan-European FTSEurofirst 300 equity index was down 0.6 percent at 0852 GMT, while the STOXX Europe 600 banks index was down more than 1 percent. Regulators imposed penalties totaling $3.4 billion on UBS , Citigroup , HSBC , Royal Bank of Scotland and JP Morgan . …

Analysis: Citigroup has an emerging markets headache

By David Henry (Reuters) – Stronger earnings by Citigroup Inc show it is on the path to recovery but its broad presence in emerging markets, many of which are experiencing slowing economic growth, may temper investors' optimism. Emerging markets have fueled two-thirds of Citigroup revenue growth for the last two years. The bank operates in about 100 countries globally, far more than most of its U.S. competitors, which means it can be hit by economic factors that shareholders know little about. …