SOURCE: Five Star Equities

Five Star Equities

September 13, 2012 08:20 ET

Foreign Bank Stocks Surge as Euro Hits Four Month High

Five Star Equities Provides Stock Research on Lloyds Banking Group and Bank of Ireland

NEW YORK, NY--(Marketwire - Sep 13, 2012) -  European financial stocks have rebounded sharply in the last month as concerns regarding the regions debt crisis seemed to have subsided, at least for the mean time. The iShares MSCI Europe Financials Sector Index Fund (EUFN) -- which is designed to measure the combined equity market performance of the financial sector of developed market countries in Europe - has gained over 13 percent in the last month. Five Star Equities examines the outlook for companies in the Foreign Banking Industry and provides equity research on Lloyds Banking Group PLC (NYSE: LYG) and Bank of Ireland (NYSE: IRE).

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The Euro rose to a four-month high on increased optimism of Germany backing the Euro zone bailout fund and possible stimulus from the Federal Reserve. Later this week Germany's Constitutional Court is expected to approve the European Stability Mechanism, Europe's EUR 500 billion fund. Germany is Europe's largest economy, and would have the most at risk if countries default forcing the European Central Bank to take losses.

"That just removes the uncertainty about the bailout fund which is euro-positive and the consensus now is that the German court will back the fund without incident," said Brian Kim, RBS Securities currency strategist.

Five Star Equities releases regular market updates on the Foreign Banking Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous stock reports and industry newsletters.

Lloyds Banking Group plc provides various banking and financial services to personal and corporate customers primarily in the United Kingdom. Moody's Investor Services recently reiterated their negative outlook on U.K banks. "The continued negative outlook for the U.K. banking sector is driven by the U.K.'s uncertain economic prospects, pressure on profitability and downside risk for asset quality," Elisabeth Rudman, a Moody's senior vice president said in the statement.

Bank of Ireland is a diversified Financial Services Group established in 1783 by Royal Charter. The Bank recently reported that Ireland's economic recovery was stronger than initially reported. According to Bank of Ireland's Quarterly Economic Outlook Ireland's economic growth last year stood at 1.4 percent, roughly double the previous estimate.

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