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Investing

European Bank ADRs Surging on Greece (NBG, GREK, STD, BBVA, IRE, DB, CS, UBS)

Photo of Jon C. Ogg
By Jon C. Ogg Published

An agreement in Greece is sending European shares higher in New York ADR trading this Monday morning.  Is it real this time?  And is it not just a temporary measure until the next Greek elections?

National Bank of Greece SA (NYSE: NBG) is up 13% at $3.44 against a 52-week adjusted range of $1.64 to $11.85. Global X FTSE Greece 20 ETF (NYSE: GREK) has not yet traded but is indicated higher.

Elsewhere in bank stocks in the lands of the PIIGS… Banco Santander, S.A. (NYSE: STD) is up 1.2% at $8.64; Banco Bilbao Vizcaya Argentaria (NYSE: BBVA) is up 1.1% at $9.56. The Bank of Ireland (NYSE: IRE) is up 2.7% at $7.35.

Of the larger European bank ADRs, Deutsche Bank AG (NYSE: DB) is up 2.2% at $44.13, Credit Suisse Group (NYSE: CS) is up 2% at $26.34, and UBS AG (NYSE: UBS) is up 2.5% at $14.25.

JON C. OGG

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About the Author Jon C. Ogg →

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.

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