1421 GMT - Investors see a good base case for European banks this year but are waiting for more certainty to add to their existing positions in the near term, UBS says in a research note after meeting with U.S. and Canadian investors. "Attractive valuations aside, with potentially more clarity on several big issues just around the corner, it seems good portfolio and career management to wait before adding bank exposure," analysts write. Demand for shares should be muted ahead of reassuring earnings, they say. Banks are cheap at a 20% discount to previous price-to-earnings ratios, considering interest-rate cuts should be mostly over by the end of 2025, analysts say. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
January 14, 2025 09:21 ET (14:21 GMT)
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