(News Bulletin 247) – European stock markets are recovering (+0.8% in London, +1.3% in Frankfurt, +1.5% in Paris), the day after a session affected by renewed concern about the American banks which weighed down the European values of the sector.
Following in the footsteps of Fitch, which had downgraded its rating assigned to the debt of the United States last week, the rating agency Moody’s has placed several American regional banks on negative watch.
It highlighted the pressures these banks face in terms of funding, but also insufficient capital reserves from a regulatory point of view and the risk associated with their exposure to commercial real estate.
After having suffered from this news on Tuesday, European banking stocks are nevertheless recovering today, like Barclays (+2% in London), Société Générale (+2% in Paris) or Deutsche Bank (+3% in Frankfurt). ).
On the front of the company publications of the day, investors shun that of Ahold Delhaize (-2% in Amsterdam), despite an increase by the food distributor in its annual free cash flow target and a increase in its half-yearly dividend.
They are also abandoning the quarterly results published by the bank ABN Amro (-2% in Amsterdam), but welcome those of the tire and automotive supplier Continental (+2% in Frankfurt) more favorably.
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