Banking shares leapComment on this story
Shares of European banks including Deutsche Bank, BNP Paribas and Barclays surged by mid-morning yesterday as central banking leaders agreed to soften and delay the planned Basel 3 bank liquidity rule.
The Bloomberg Europe Banks and Financial Services Index rose as much as 2.1 percent with Italy’s Monte di Paschi die Siena leading gains at 19 percent by 11am in London.
“We see the liquidity coverage ratio changes as a material improvement in the regulatory environment that banks face,” Matt Spick, a Deutsche Bank analyst, wrote. – Bloomberg