{"id":18212,"date":"2018-08-15T21:04:50","date_gmt":"2018-08-15T18:04:50","guid":{"rendered":"https:\/\/bestinsurance.gr\/a1\/?p=18212"},"modified":"2018-08-15T21:04:50","modified_gmt":"2018-08-15T18:04:50","slug":"european-banks-drop-for-a-sixth-day-entering-bear-market","status":"publish","type":"post","link":"https:\/\/bestinsurance.gr\/a1\/archives\/18212","title":{"rendered":"European Banks Drop for a Sixth Day, Entering Bear Market"},"content":{"rendered":"<section class=\"news-header\"><span class=\"news-dateline\">(Bloomberg) &#8212;<\/span><\/section>\n<section class=\"news-rsf-news-body\">Stoxx 600 Banks index drops 1.1% on Wednesday amid a broad market selloff, marking a sixth straight day of declines for the sector, which has entered a bear market.<\/p>\n<ul>\n<li>Index hits lowest close since November 2016, down 20% since 2018 high reached in January<\/li>\n<li>Spanish banks are among the day\u2019s worst sector performers; investors fret about exposure to emerging markets amid rally in dollar, selloff in some EM currencies<\/li>\n<li>Bankinter -2.6% Banco Santander -2.2%, Banco Sabadell -2.1%\n<ul>\n<li>Spanish banks delivered better loan growth and fee income, mixed net interest margin performance and weaker capital build in 2Q, Goldman Sachs <a id=\"url-id-0\" class=\"link-enabled\" title=\"Spanish Bank Loan Growth Returns, Capital Weaker: Goldman Sachs\" href=\"bloomberg:\/\/commands\/NSN%20PDHZO86K50XS\">says in a note<\/a>, trimming estimates for the sector<\/li>\n<\/ul>\n<\/li>\n<li>Citi strategist Jonathan Stubbs <a id=\"url-id-1\" class=\"link-enabled\" title=\"Citi Touts European Banks in \u2018World\u2019s Biggest Contrarian Trade\u2019\" href=\"bloomberg:\/\/commands\/NSN%20PDI3746JTSE9\">says<\/a> he\u2019s a contrarian buyer of European banks, arguing that the selloff is \u201cincreasingly difficult\u201d to understand unless there is a macro shock or sector earnings shock ahead<\/li>\n<li>\u201cBanks have reverted to 2018 price-to-books last seen about a year ago at 0.8x. This is presumably an entry point with the promise of a 5.2% (dividend) yield,\u201d AlphaValue analysts wrote in a note this week<\/li>\n<li>Other movers: Bank of Ireland -3.4%, Deutsche Bank -2.7%, Standard Chartered -2.7%<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>(Bloomberg) &#8212; Stoxx 600 Banks index drops 1.1% on Wednesday amid a broad market selloff, marking a sixth straight day of declines for the sector, which has entered a bear market. Index hits lowest close since November 2016, down 20% since 2018 high reached in January Spanish banks are among the day\u2019s worst sector performers;<\/p>\n","protected":false},"author":1,"featured_media":18213,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-18212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/18212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/comments?post=18212"}],"version-history":[{"count":1,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/18212\/revisions"}],"predecessor-version":[{"id":18214,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/18212\/revisions\/18214"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media\/18213"}],"wp:attachment":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media?parent=18212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/categories?post=18212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/tags?post=18212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}