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European Banks Rally: What Eurozone Crisis?
European banking stocks rose with higher volume trading than US bank stocks, begging the question, what Eurozone crisis?
High trading volumes indicate many payers are weighing in their opinion on the stock’s value. So if European banks are trading up on high volume it’s a good indicator that multiple investors have faith in a recovery. But what evidence has spurred this optimistic trading?
“Sovereign risk, within certain bounds, is largely about confidence and is why some countries can fund themselves with debt loads three times greater than others that can’t,” explains Ritholtz.
Spain and France sold their bonds at lower yields despite France’s downgrade, reports Bloomberg. But Manish Singh, London-based head of investment at Crossbridge Capital, is cautious: “The debate on the Greek debt deal with private investors is damping the optimism. Unless the deal is in the bag, I don’t think the market will rally on successful auctions alone.”
Business Section: Investing Ideas
Looking for a list of European banks? Here is the complete list of European banks trading on U.S. markets.
Is this the beginning of a relief rally for these stocks? What do you think?
6. Royal Bank of Scotland Group plc (RBS, Earnings, Analysts, Financials): The Royal Bank of Scotland Group plc, through its subsidiaries, offers banking and financial services to personal, commercial, corporate, and institutional customers in the United Kingdom, the United States, and internationally.
8. Banco Bilbao Vizcaya Argentaria, S.A. (BBVA, Earnings, Analysts, Financials): Engages in the retail banking, asset management, private banking, and wholesale banking businesses in Spain and internationally.
9. The Governor and Company of The Bank of Ireland (IRE, Earnings, Analysts, Financials): Provides banking and other financial services to small and medium-sized commercial and industrial companies in Ireland and internationally.
(Written by Rebecca Lipman. List compiled by Eben Esterhuizen, CFA. Data sourced from Finviz.)
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Analyze These Ideas: Getting Started
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Dig Deeper: Access Company Snapshots, Charts, Filings
- UBS AG (UBS, Chart, Download SEC Filings)
- Credit Suisse Group (CS, Chart, Download SEC Filings)
- Lloyds Banking Group plc (LYG, Chart, Download SEC Filings)
- Deutsche Bank AG (DB, Chart, Download SEC Filings)
- Barclays PLC (BCS, Chart, Download SEC Filings)
- Royal Bank of Scotland Group plc (RBS, Chart, Download SEC Filings)
- Banco Santander, S.A. (STD, Chart, Download SEC Filings)
- Banco Bilbao Vizcaya Argentaria, S.A. (BBVA, Chart, Download SEC Filings)
- The Governor and Company of The Bank of Ireland (IRE, Chart, Download SEC Filings)
- National Bank of Greece SA (NBG, Chart, Download SEC Filings)
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