FRANKFURT (MarketWatch) -- The European banking sector was upgraded on Tuesday to overweight at Credit Suisse after the broker had taken the sector to benchmark from underweight in early July. Credit Suisse cited several reasons for the latest upgrade: macroeconomic risks are overstated, valuation and profitability are supportive, and lending conditions suggest positive loan growth in Europe. Also, regulation and tax have been watered down, Credit Suisse said http://www.marketwatch.com/story/european-banking-sector-raised-to-overweight-2010-08-31