0841 GMT - The first-order implications for European financials from the U.S. election are limited overall, Citi analysts say in a research note as a Republican victory looks increasingly likely. There are longer-term implications for European banks, however, given the future rates and foreign-exchange trajectory, the knock-on impact of new tariffs--relevant for China and Mexico-exposed companies--and potential deregulation of U.S. peers, analysts write. "Banks which could be beneficiaries of a potential Republican clean sweep - UBS, Julius Baer, BNP and SocGen, whereas the impact is likely to be more mixed for others, and likely to be viewed as negative for BBVA, German and Swedish banks in our view," they add. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
November 06, 2024 03:45 ET (08:45 GMT)
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