Europe s banks are no longer as afraid of an economic meltdown
Nicholas Comfort, Bloomberg News European banks , Bloomberg News
European banks are joining U.S. peers in saying the pandemic wonât wreak as much havoc in their balance sheets as feared.
Almost all big European lenders to report first-quarter earnings so far have bolstered profit by stashing less money for doubtful loans than last year or by freeing up reserves. Deutsche Bank AG, Banco Santander SA and Lloyds Banking Group Plc are among the firms to argue that rosier economic prospects justify such moves.
Banks around the world set aside billions of dollars last year to swallow losses from an expected wave of defaults, yet unprecedented support from taxpayers and central banks has kept the economy afloat. While banks and regulators are still warning they face risks when government support comes to an end, most are signaling the expectation that growth will sti
European Stocks Steady Amid Fed Focus as Banks Rise on Results
This content was published on April 28, 2021 - 16:08
April 28, 2021 - 16:08
(Bloomberg) European shares ended little changed ahead of the Federal Reserve’s policy decision, while better-than-forecast earnings boosted banks.
The Stoxx Europe 600 Index edged up less than 0.1% at the close. Banks led gains as Deutsche Bank AG jumped after raising its outlook, while Lloyds Banking Group Plc and Banco Santander SA posted results that beat estimates. Energy shares rose along with oil futures amid signs of stronger demand, while personal-care stocks fell the most.
Europe’s benchmark has moved in a narrow range after dropping from an all-time high last week. With stocks rallying hard in anticipation of an earnings recovery, only strong beats are spurring investor cheer. Yields on 10-year Treasuries advanced, with investors awaiting the Fed’s rate decision due after the European market close for clues on the timing of
Article content
(Bloomberg) European shares ended little changed ahead of the Federal Reserve’s policy decision, while better-than-forecast earnings boosted banks.
The Stoxx Europe 600 Index edged up less than 0.1% at the close. Banks led gains as Deutsche Bank AG jumped after raising its outlook, while Lloyds Banking Group Plc and Banco Santander SA posted results that beat estimates. Energy shares rose along with oil futures amid signs of stronger demand, while personal-care stocks fell the most.
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Sustainable BusinessMOVES Blackstone makes sustainability push with slew of new hires
Jessica Dinapoli
3 minutes read
The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE) April 4, 2016. REUTERS/Brendan McDermid
Private equity firm Blackstone Group Inc (BX.N) told Reuters on Tuesday it has made five additions to its environmental, social and governance (ESG) team, as its steps up the implementation of sustainability and diversity initiatives across its businesses.
The hirings come as buyout firms seek to burnish their ESG credentials. While their lucrative leveraged buyouts have won them a loyal investor base, more investors are now asking questions about their impact on jobs and the environment.