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It's a "risk off" day for European financials (EUFN -3.4%), after Spain's expected bank bailout...
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Friday, July 20, 2012, 12:29 PM ETIt's a "risk off" day for European financials (EUFN -3.4%), after Spain's expected bank bailout approval is accompanied by a weak GDP forecast. Unsurprisingly, Spanish banks are the biggest losers: SAN -7.7%. BBVA -8.4%. U.S. banks are only doing better by comparison (XLF -1.3%).
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This news story has 8 comments:
good luck
Spain -5.82%, Italy -4.38%, France -2.14%, Germany -1.9%, England -1.09%, Stoxx 50 -2.83%
Numbers as these jog my memory as to something on the order of, "Buy low (when extraordinarily unpopular)!"