EU Banks Getting in Trouble Again (BCS, IRE, AIB, NBG, BBVA, STD, RBS, LYG, DB, UBS, CS)
Nearly every stock and ADR/ADS of European banking stocks are lower so far on Tuesday over concerns over debt levels and downside levels of recent stress tests not factoring in the right risks in the European banks. The Wall Street…
Barclays PLC (NYSE: BCS) is down after a surprise CEO resignation by John Varley and he will be replaced by investment banking head Bob Diamond in March. We are seeing key drops in the PIIGS: Bank of Ireland (NYSE: IRE); Allied Irish Banks, plc (NYSE: AIB); National Bank Greece AS (NYSE: NBG), Banco Bilbao Viscaya Argentaria (NYSE: BBVA); and in Banco Santander, S.A. (NYSE: STD). Other drops in the U.K include Royal Bank of Scotland Group plc (NYSE: RBS) and Lloyds Banking Group plc (NYSE: LYG). Deutsche Bank AG (NYSE: DB) got hammered in Germany; and even Swiss giants UBS AG (NYSE: UBS) and Credit Suisse Group (NYSE: CS) are having their day in the rain.
We have a spreadsheet snapshot below showing the drops:
| European Bank ADR/ADS | ADR$ | $ Change | % Change | 52-Week Range |
|---|---|---|---|---|
| Bank of Ireland | $3.74 | Down 0.29 | Down 7.20% | $3.10 – $20.18 |
| Allied Irish Banks, plc | $1.99 | Down 0.07 | Down 3.40% | $1.91 – $10.42 |
| National Bk Greece AS | $2.62 | Down 0.17 | Down 6.09% | $2.11 – $8.37 |
| Banco Bilbao Viscaya Argentaria | $12.43 | Down 0.48 | Down 3.72% | $8.65 – $19.78 |
| Banco Santander, S.A. | $12.29 | Down 0.39 | Down 3.08% | $8.65 – $17.89 |
| Barclays plc | $19.17 | Down 1.11 | Down 5.47% | $15.36 – $25.68 |
| Royal Bank of Scotland Group plc | $14.09 | Down 0.46 | Down 3.16% | $10.28 – $14.75 |
| Lloyds Banking Group plc | $4.43 | Down 0.10 | Down 2.19% | $3.10 – $20.18 |
| Deutsche Bank AG | $62.62 | Down 1.99 | Down 3.08% | $54.14 – $84.93 |
| UBS AG | $17.53 | Down 0.52 | Down 2.88% | $12.26 – $19.32 |
| Credit Suisse Group (CS) | $44.77 | Down 1.83 | Down 3.93% | $36.36 – $60.08 |
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
