European Financial Stocks Begin to Slide as Recent Data Signals Economic Contraction
April 24, 2012 08:20 ET
European Financial Stocks Begin to Slide as Recent Data Signals Economic Contraction
Five Star Equities Provide Stock Research on Deutsche Bank and Banco Santander
NEW YORK, NY--(Marketwire - Apr 24, 2012) - European financial stocks have surprised investors with gains in the first quarter but have seen a sharp pull back recently, as recent euro-zone economic data and political uncertainty in France and Holland have accentuated concerns about the region's current financial crisis. The iShares MSCI Europe Financials Sector Index Fund (EUFN) -- which is designed to measure the combined equity market performance of the financial sector of developed market countries in Europe -- is down over 11 percent this month. Five Star Equities examines the outlook for companies in the Foreign Banking Industry and provides equity research on Deutsche Bank (
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The euro zone's April preliminary purchasing managers' index rating fell to 47.4 from 49.1 in March. This reading has pointed to a faster rate of economic contraction across the region than many analysts had expected. These numbers compacted with the political problems in France and Holland have economists worried that Europe's economy will be in a recession until the second half of 2012.
"Europe is driving the boat right now, and there's no reason to think that investor anxiety will dissipate any time soon," said Joe Cogan, vice president of international equities at Topeka Capital Markets in New York. "In addition, the market has been due for a pullback, and I think we could see another 2 to 3 percent of downside before investors come back in the market."
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Deutsche Bank last month published its annual report for 2011. It consists of two sections: the Annual Review and the Financial Report. The Annual Review presents the bank's corporate profile and corporate divisions, the development of the share as well as the bank's staff and its corporate social responsibility activities. The Financial Report contains the audited Consolidated Financial Statements of Deutsche Bank for the 2011 financial year, prepared in accordance with International Financial Reporting Standards (IFRS).
Banco Santander, S.A. (Santander) is a financial group operating principally in Spain, the United Kingdom, Portugal, other European countries, Brazil and other Latin American countries and the United States, offering a range of financial products. Earlier this month Banco Santander announced that it will change the NYSE ticker symbol of its American Depositary Shares from "STD" to "SAN", effective at the commencement of trading on June 14, 2012.
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