European Financial Stocks Start to Rebound - Lloyds Bank and The Bank of Ireland Optimistic
The Paragon Report Provides Equity Research on Lloyds Banking Group & The Bank of Ireland
NEW YORK, NY -- (Marketwire) -- 02/29/12 -- European financial stocks have performed surprisingly well this year as the finance ministers of the 17-member eurozone agreed to grant the second bailout worth 130 billion euros to a bankrupt Greece. The iShares MSCI Europe Financials Sector Index Fund (EUFN) -- which is designed to measure the combined equity market performance of the financial sector of developed market countries in Europe -- is up more than 18 percent year to date. The Paragon Report examines investing opportunities in the Foreign Banking Industry and provides equity research on Lloyds Banking Group PLC (NYSE: LYG) (LSE: LLOY) and The Bank of Ireland (NYSE: IRE) (LSE: BKIR) (ISE: BIR). Access to the full company reports can be found at:
Recent money supply data for January from the European Central Bank (ECB) shows that the European Central Bank's generous liquidity policy is working. The annual growth in M3 accelerated to 2.5% in January following a 0.1 percentage point downwardly revised 1.5% increase in December. This was much higher than analysts' expectations of a 1.8% rise, The Wall Street Journal explains.
The data shows that the 12-month growth in loans to the private sector, including households and companies, rose from 1 percent to 1.1 percent in January. Lending for house purchases grew slightly, by 4 billion euros in January, while credit for consumption grew 2 billion euros, according to seasonally- adjusted data from the ECB.
The Paragon Report provides investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the Foreign Banking industry register with us free at www.paragonreport.com and get exclusive access to our numerous stock reports and industry newsletters.
Lloyds Banking Group plc provides various banking and financial services to personal and corporate customers primarily in the United Kingdom. Last week the company posted a full-year net loss of $4.41 billion as it pushed back a key earnings target, citing a gloomy U.K. macroeconomic outlook and increased regulatory uncertainty. Despite the loss, Chief Executive Antonio Horta-Osorio said that the group "is now in a significantly stronger position than it was 12 months ago."
Bank of Ireland also believes it is in a better position this year. By end-December last year, it had fully exited the costly emergency liquidity assistance (ELA) offered by Ireland's central bank and reduced its dependency on European Central Bank funding to 23 billion euros from 33 billion a year earlier.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at http://www.paragonreport.com/disclaimer.
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here
©2013 MoneyShow.com, LLC. All Rights Reserved. For a complete trademark notice, please see the Terms of Service