Despite data showing Spain’s economy exited the recession in the third quarter shares of foreign bank stocks fell Wednesday after the European Central Bank outlined tougher stress tests for euro zone banks. The ECB has stated it would being a thorough review of 128 financial institutions’ balance sheets and will ask them to set aside 8% of their risk-adjusted capital. "We expect that this assessment will strengthen private sector confidence in the soundness of euro area banks and in the quality of their balance sheets," ECB President Mario Draghi said.
Barclays PLC (NYSE: BCS) shares traded in the range of $17.22 to $17.39 Wednesday before settling to close at $17.31, a decrease of 2.31 percent. The stock appears to be facing some resistance at the $17.39 and $17.90 levels with some support at $17.29.
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Deutsche Bank AG (NYSE: DB) shares traded in the range of $49.04 to $49.59 Wednesday before settling to close at $49.52, a decrease of 1.77 percent. The stock appears to be facing some resistance at the $49.71 and $50.34 levels with some support at $49.01. Shares of Deutsche Bank have gained approximately 12.0 percent in 2013.
More information on Deutsche Bank and access to the free equity report can be found at:
Lloyds Banking Group PLC (NYSE: LYG) shares traded in the range of $5.07 to $5.13 Wednesday before settling to close at $5.12, a decrease of 0.78 percent. The stock appears to be facing some resistance at $5.26 with some support at the $4.98 and $4.79 levels. Shares of Lloyds Banking Group have gained approximately 60.0 percent in 2013.
More information on Lloyds Banking Group and access to the free equity report can be found at:
UBS AG (NYSE: UBS) shares traded in the range of $21.13 to $21.25 Wednesday before settling to close at $21.19, a decrease of 1.76 percent. The stock appears to be facing some resistance at the $21.31 and $22.18 levels with some support at $20.85. Shares of UBS have gained approximately 35.0 percent in 2013.
More information on UBS and access to the free equity report can be found at:
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