Week of recovery for banking market

Date: March 12, 2009	Source: AlertNet
Category: Business

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Shares of the largest Spanish bank Santander and BBVA have risen in the last three sessions by 19.5 and 16% respectively by the hikes aupadas living the banking sector in European markets after reports of Citigroup and support to banking in the U.S.. On Tuesday the European banking system rose an average of close to 13% in the trading day because of good earnings prospects of Citigroup and the financial sector support given by U.S. authorities, according to experts consulted emphasized today.

In addition, Bank of America, the largest U.S. bank, expects to earn 50,000 million and an income of 100,000 million before taxes and provisions in 2009, said its chief executive Ken Lewis. The executive said he expects Bank of America successfully pass stress tests be conducted by the Government and no additional state funds. The agency has already taken 45,000 million Programme for Troubled Assets Relief.

One Response to "Week for the banking market recovery"

1. Weekly Summary from 9 to March 13, 2009 said:
   March 14, 2009 at 13:02

   [...] Of money from investors, who seem to wonder if you have already touched ground. Economic data better than expected especially in the financial sector have enabled the major indices make a recovery week on [...]