Banks equity research

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Stocks in this sector include banks that offer: retail services, investment banking, commercial services, online banking, and savings and loans.

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Breakfast Today

  • 21 Dec 16

"With markets winding down for the Christmas and New Year break, International equities remain very much the favoured investment. The continuing rout across global bond markets appeared to gather pace yesterday from the fallout of the supposed terrorist attacks in Germany and Turkey, as investor concern for a potentially wider series of IS-directed extremist assaults across Europe’s capitals to unnerve its populations, the backlash of which could result in further sharp swings toward more populist governments during the various presidential and general elections expected in the New Year. Right now the threat may not seem very real, but with the possibility of an early vote to replace Italy’s recently-installed caretaker government and France’s presidential election scheduled for May, well-prepared opposition parties in the shape of Beppe Grillo’s Five Star Movement and Marine le Pen’s National Front etc. are positioned to challenge the very existence of the Eurozone. During these quite exceptional times, with authorities still apparently totally out of touch with their electorate, such a threat simply cannot be discounted, the ultimate cost of which could even be for independent nations to choose reversion to their legacy currencies with the potential to create widespread default. Such lingering fears will likely hinder Europe’s opening this morning, despite the Dow Jones chalking up yet another all-time high overnight, closing just shy of the psychologically important 20,000 mark, with all the principal US markets also making reasonable gains as optimism that Trump-inspired reflation and proposed investment will provide a significant medium-term boost to earnings. Asia was also in a good mood, with broad gains seen in just about all regional markets most notably with even China playing catch-up following a couple of days of weaker trading as economists speculated on the potential for a PBOC-directed tightening of liquidity during Q1’2017. Other than release of Public Sector Net Borrowing figures this morning, the UK is not due to release any significant macro data, while the US is scheduled only to provide MBA Mortgage Applications and Existing Home sales data ahead of a larger swath of figures tomorrow and Friday. Very little is also happening on the corporate front this morning, with earning or trading updates due from just a few second-liners including CH Bailey (BLEY.L), Premaithia Health (NIPT.L) and Water Intelligence (WATR.L). Investors will, however, be keen for any further media comment following the Prime Minister, Theresa May’s reported backing for the UK to be permitted to enter a ‘transitional period’ in order to adjust to the new economic order prospectively resulting from Brexit. Accepting the need for a soft, rather than hard, landing could provide significant relief for those fearful that a clear post-Article 50 plan is still not in place. The FTSE100 is seen around 10 points weaker during this morning’s opening trade. " - Barry Gibb, Research Analyst