Euro hit as investors fret over Europe's banks

LONDON (AP) — Renewed fears over Europe's shaky banking sector sent the euro skidding to a near 16-month low against the dollar Thursday, while stock markets failed to get much of a boost from another round of upbeat U.S. economic data

For a second day running, market concern has centered on the state of the banks following UniCredit's announcement Wednesday that it was selling new shares at a 69 percent discount to Tuesday's closing price.

UniCredit, Italy's biggest bank, is trying to raise €7.5 billion ($9.7 billion) to meet new European requirements for banks to thicken their financial cushions against possible losses. UniCredit's share price slid over 10 percent for the …