1119 GMT - European banks are more discounted than in the past, RBC Capital Markets says in a research note. The lenders trade at a 46% discount to the European market and at a 41% discount to U.S. banks, analysts write. "We expect the political/economic/regulatory uncertainty to weigh on the sector and its earnings momentum at least in the near term." Their preferred names are Barclays and Deutsche Bank--which are on their Global Financials Best Ideas list--as well as UBS, Julius Baer, BNP Paribas and OSB Group given they are less dependent on net interest income, have a U.S. focus and have tighter cost control. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
December 24, 2024 06:19 ET (11:19 GMT)
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