European stocks dip as Italian banks, downbeat data weigh

News Snapshot:

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 7, 2023. REUTERS/Staff/File Photo Summary Companies STOXX 600 down 0.3% Aug 8 (Reuters) - European shares dropped on Tuesday, as Italian banks came under pressure after the cabinet approved a 40% windfall tax on lenders, while sticky inflation print from Germany and weak China trade data further dented risk sentiment. By 0707 GMT, the pan-European STOXX 600 index (.STOXX) was down 0.3%. Italian banks such as Intesa Sanpaolo (ISP.MI) and UniCredit (CRDI.MI) fell more than 5% after Deputy Prime Minister Matteo Salvini said...