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Markets digest mass of new data on troubled European banking system

  • A view of a "Banca Popolare di Milano" bank branch in Milan, Italy, Sunday, Oct.26, 2014. The European Central Bank says 13 of Europe's 130 biggest banks have flunked an in-depth review of their finances and need an extra 10 billion euros ($12.5 billion) to cushion themselves against any future crises. ECB officials said Sunday the test had been tougher than similar reviews in 2011 and 2010, which gave a pass to banks that later needed bailouts. (AP Photo/Luca Bruno)

    A view of a "Banca Popolare di Milano" bank branch in Milan, Italy, Sunday, Oct.26, 2014. The European Central Bank says 13 of Europe's 130 biggest banks have flunked an in-depth review of their finances and need an extra 10 billion euros ($12.5 billion) to cushion themselves against any future crises. ECB officials said Sunday the test had been tougher than similar reviews in 2011 and 2010, which gave a pass to banks that later needed bailouts. (AP Photo/Luca Bruno)  (The Associated Press)

  • People walk past a "Banca Carige" bank branch in Milan, Italy, Sunday, Oct.26, 2014. The European Central Bank says 13 of Europe's 130 biggest banks have flunked an in-depth review of their finances and need an extra 10 billion euros ($12.5 billion) to cushion themselves against any future crises. ECB officials said Sunday the test had been tougher than similar reviews in 2011 and 2010, which gave a pass to banks that later needed bailouts. (AP Photo/Luca Bruno)

    People walk past a "Banca Carige" bank branch in Milan, Italy, Sunday, Oct.26, 2014. The European Central Bank says 13 of Europe's 130 biggest banks have flunked an in-depth review of their finances and need an extra 10 billion euros ($12.5 billion) to cushion themselves against any future crises. ECB officials said Sunday the test had been tougher than similar reviews in 2011 and 2010, which gave a pass to banks that later needed bailouts. (AP Photo/Luca Bruno)  (The Associated Press)

  • A view of a "Banca Popolare di Milano" bank branch in Milan, Italy, Sunday, Oct. 26, 2014. The European Central Bank says 13 of Europe's 130 biggest banks have flunked an in-depth review of their finances and need an extra 10 billion euros ($12.5 billion) to cushion themselves against any future crises. ECB officials said Sunday the test had been tougher than similar reviews in 2011 and 2010, which gave a pass to banks that later needed bailouts. (AP Photo/Luca Bruno)

    A view of a "Banca Popolare di Milano" bank branch in Milan, Italy, Sunday, Oct. 26, 2014. The European Central Bank says 13 of Europe's 130 biggest banks have flunked an in-depth review of their finances and need an extra 10 billion euros ($12.5 billion) to cushion themselves against any future crises. ECB officials said Sunday the test had been tougher than similar reviews in 2011 and 2010, which gave a pass to banks that later needed bailouts. (AP Photo/Luca Bruno)  (The Associated Press)

Italian bank shares led a broad drop in European financial stocks as investors sifted through the masses of data released in Europe's far-reaching review of banks.

Several German lenders also were shown to be shaky, though they passed the main test.

Those were among the takeaways Monday, when markets got a first chance to react to the results published Sunday. Of 130 big European banks, 25 flunked tests of financial strength — and nine of those were Italian.

Shares in Italian bank Monte dei Paschi di Siena sagged 18 percent before they were suspended. It had the biggest capital shortfall, 2.11 billion euros.

Meanwhile, Germany's HSH Nordbank, DZ Bank and WGZ Bank passed the basic test but the data suggested they are also not in top financial health.