Use access key #2 to skip to page content.

IBDvalueinvestin (99.68)

European Banks Surging on NEWS out of

Recs

3

July 20, 2009 – Comments (2) | RELATED TICKERS: LYG , AIBYY , DB

Lloyds - LYG , the bank whose largest shareholder is the British government, gained 7.1 percent to 72.28 pence. The Sunday Times newspaper said the lender may report a profit for the first six months of the year after accounting rules allowed it to write back billions of pounds of sub-prime investments. The Sunday Times did not say where it got the information.

European banks list:

LYG, AIB, BCS, DB, IRE

2 Comments – Post Your Own

#1) On July 20, 2009 at 11:23 AM, IBDvalueinvestin (99.68) wrote:

DB - Deutsche Bank moves up ahead of 2Q earnings release on July 28

Report this comment
#2) On July 20, 2009 at 11:44 AM, Chromantix (97.68) wrote:

"...accounting rules allowed it to write back billions of pounds of sub-prime investments."

Correct me if I'm wrong, but isn't this just diddling with numbers to make things look ok even though the bank is still out "billions of pounds"?

If so, the moral of the story is: if you suck, just rewrite the rules.

Report this comment

Featured Broker Partners


Advertisement