European Bank Stocks Lead Rally After a Decade of Disappointment
Jun 13 2021, 8:59 PM
June 13 2021, 9:30 AM
June 13 2021, 8:59 PM
(Bloomberg) This time, it may be more than just another false dawn for European bank stocks.
(Bloomberg) This time, it may be more than just another false dawn for European bank stocks.
The worst performers among Europeâs equity markets in the past decade have had occasional hot streaks, but with this yearâs re-emergence of inflation promising an end to an era of near-zero interest rates, the sector is among the biggest gainers in 2021.
The Stoxx 600 Banks Index is up 76% since a low in September, its steepest advance since the recovery from the financial crisis. Societe Generale SA, Banco Santander SA and Natwest Group Plc are among 11 lenders whose shares have more than doubled. And yet even after the surge, the gauge is still below pre-pandemic levels and the stocks remain relatively cheap.
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