SocGen upgrades European banks to neutral from underweight

Discussion in 'Stocks' started by ASusilovic, Apr 7, 2008.

  1. Societe Generale on Monday upgraded the European commercial banking sector to neutral from underweight, saying moves by banks to raise capital should reduce the selling pressure on illiquid assets. "Balance sheet strengthening can allow owners of illiquid assets to take the pain of fair value accounting, keep the asset and wait for better times," the broker said. "However, this should not be read as implying banks are out of the woods: they remain hostage to a slowing global economy and to errors of judgement made at a time when the credit market was buoyant," SocGen said. The group retained its neutral stance on U.K. banks and its underweight view of the investment banking sector.}&dist=hplatest

    Wait for better times....Ha, ha, ha....:D :D :D