Barclays downgraded the firm’s sector view for European Banks to Neutral from Positive following UBS‘ (UBS) takeover of Credit Suisse (CS), citing the view that regulation likely will be increased again, especially on liquidity requirements, and that increased regulatory scrutiny will weigh on the sector. While a resolution to the Credit Suisse situation may be a near term positive, "it will be some time before things get better," said the firm, which identifies Overweight-rated BNP Paribas (BNPQY), ABN Amro (AAVMY), HSBC (HSBC) and Lloyds Banking (LYG) as it preferred names in the group.
Published first on TheFly
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