European Bank Stocks Rewind to 2012 as Draghi Rally Wanes: Chart
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The bank-stock rally sparked in 2012 by Mario Draghi’s pledge to save the euro is fizzling.
Lenders in the benchmark Stoxx Europe 600 Index have erased about a third of their value since reaching a four-year high in July, falling to their lowest levels since November 2012. The European Central Bank president’s vow that year to do whatever it takes to avert a breakup of the region stoked investor optimism and helped bank shares almost double in the three years that followed.