UPDATE 3-European shares fall from 7-week peak on ECB, earnings upset [Reuters]
Lloyds Banking Group Plc American Depositary Shares (LYG)
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Source: Reuters
European shares fall from seven-week peak on ECB, earnings upset (Reuters) - European shares fell from seven-week highs on Thursday after the European Central Bank held back on big policy moves despite mounting evidence of the damage being wrought on the euro zone economy by the coronavirus crisis. Euro zone banks .SX7P sank 5.1% as the central bank said it would pay more for banks to borrow from it but otherwise kept much of its remaining policy powder dry. The sector also came under pressure from a 8.3% decline in France’s Societe Generale ( SOGN.PA ) as it reported a quarterly loss after hiking provisions for bad loans and suffered a revenue wipeout at its equity trading division. “Some market participants had expected other things such as an expansion of quantitative easing. That didn’t happen and explains why markets did not react positively after the announcement,” said Rabobank’s head of macro strategy Elwin de Groot. “But it does show that the ECB felt it was absolutely nece
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Sec Filings
- 12/20/24 - Form 6-K
- 12/19/24 - Form 6-K
- 12/19/24 - Form 6-K
- LYG's page on the SEC website