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Image header Agence Europe
Europe Daily Bulletin No. 10290
Contents Publication in full By article 31 / 34
GENERAL NEWS / (eu) stock market

European banking stocks suffering from crisis. - Following the spectacular 2009 46.43% rebound on the Stoxx 600 Banks index, which looks at the performance of 53 European banking stock market values, the latter suffered an 11.57% tumble in 2010. Overall, bank stock market values were affected by market concerns about regulation changes and debt in European countries. British banks, the Royal Bank of Scotland (RBS) and Lloyds Banking (state owned since the 2008 crisis) are, however, an exception. RBS therefore regained fifth place in European stock market capitalisations, according to the Bloomberg agency, after having fallen to 16th place the previous year. In 2009, Lloyds Banking closed with one of the biggest increases in capital in the sector, with almost a 30% increase in 2010 and climbs up the league table by five places to end in fourth place. There is no change in the three European banking stock market capitalisations compared to last year and the Chinese-British owned giant HSBC is at the top of the table (capitalisation of €134.2 billion on 31 December 2010), followed by Spain's Banco Santander (€66 billion) and the French bank, BNP Paribas (€58.billion). Unsurprisingly, the steepest falls affected Greek and Irish banks. The Bank of Greece experienced a 60% fall and the Bank of Ireland suffered a fall of 55%. French banks also suffered sharp year-on losses, with Dexia values falling by 37%. Crédit Agricole experienced a sharp fall of 23%. Overtaken last year by Crédit Suisse, UBS has won back its sixth place in the league table (it was in eighth position last year), despite a fall of 3.3% in stock market values compared to a fall of 25% suffered by its fellow French bank competitor. (I.L./transl.fl)

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THE DAY IN POLITICS
GENERAL NEWS
WEEKLY SUPPLEMENT