1142 GMT - European bank stocks could react to the initial yield curve moves after the U.S. election, Keefe, Bruyette & Woods say in a research note. "With more caveats than normal, a Trump win would be beneficial for banks that benefit from more capital markets, a stronger USD and with less exposure to tariffs," analysts write. A Harris win would arguably be more surprising and a relief for the tariff-threatened economies with reverse consequences, they add. Taking into account Trump and Harris' probabilities since this summer, Trump-favored periods have been best for U.K., French and Swiss banks but worse for Benelux, German and Spanish lenders. Harris-favored periods were better for Germany, Benelux, and Austria, but worst for Spain, Ireland and the U.K., they add. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
November 04, 2024 06:42 ET (11:42 GMT)
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