Investing
British Banks Lloyds, RBS Top Tuesday's 52-Week Low Club
July 5, 2016 4:04 pm
Last Updated: January 13, 2020 6:04 am
July 5, 2016: Here are four stocks trading with relatively heavy volume among 39equities making new 52-week lows in Tuesday’s session. NYSE decliners led advancers by about 3 to 1 and Nasdaq decliners led advancers by somewhat less than that.
Lloyds Banking Group plc (NYSE: LYG) fell by about 8.8% on Tuesday to post a new 52-week low of $2.71 against a high of $5.54. The stock closed at $2.77 on Friday night. Volume reached around 45.5 million shares, about 9 times the stock’s daily average of around 5.4 million. The bank had no specific news Tuesday.
Royal Bank of Scotland Group plc (NYSE: RBS) fell by about 9.5% on Tuesday to post a new 52-week low of $4.17 against a high of $11.27. The stock closed at $4.61 on Friday night. Volume reached around 8.1 million shares, approaching double the stock’s daily average of around 2.5 million. The bank had no specific news Tuesday.
Credit Suisse Group AG (NYSE: CS) dropped about 5.7% on Tuesday to post a new 52-week low of $10.25 against a 52-week high of $29.99. Volume was about equal to the daily average of around 4.6 million. The stock closed at $10.87 on Friday night. The company had no specific news, but concerns about the British banking system have not abated much since last week.
Valero Energy Corp. (NYSE: VLO) dropped about 4% on Tuesday to post a new 52-week low of $49.33 against a 52-week high of $73.88. Volume is about equal to the daily average of around 5.8 million. Oil refining margins are under pressure from high U.S. inventory levels.
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