Are European Banks Fair Value?
Gains across most industry groups boosted European stocks toward their highest levels in a month. Banco Popolare SC added 1.8 percent as Goldman Sachs Group Inc. maintained a buy rating on the firm after lowering its profit estimates for Italian lenders through 2020. The Stoxx 600 rose 0.3 percent at 8:14 a.m. in London. Banks dragged the benchmark lower yesterday, before data showing an improvement in U.S. durable-goods orders helped trim most of its losses. Barclays Bank Head of Investment Strategy for Europe William Hobbs discusses with Guy Johnson in London and Matt Miller in Frankfurt on "Bloomberg Markets: European Open." (Source: Bloomberg)