1334 GMT - Shares in Nordic banks are trading lower but are still performing notably better than the Stoxx 600 Banks Index given their lesser exposure to U.S. tariffs compared with continental peers, Citi says in a research note. Their outperformance is broadly warranted, analysts write, adding that the drop across the sector is also seemingly driven by a positioning unwind as European banks until recently screened as the most loved. Danish bank Danske has faced the hardest hit, though this seems overdone given bulk of Danish exports to the U.S. are already produced there, limiting any tariff impact, they note. Still, DNB and Nordea are better placed to weather any headwinds. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
April 04, 2025 09:34 ET (13:34 GMT)
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