European banks explode higher at the open on news of the agreement to recapitalize the...

|By:, SA News Editor

European banks explode higher at the open on news of the agreement to recapitalize the region’s banks. Deutsche Bank (DB) +15.4%, Barclays (BCS) +16.4%, Royal Bank of Scotland (RBS) +12% lead the way as shorts run for the hills. U.S. banks (XLF +4.6%) ride the momentum: BAC +6.4%, JPM +7.7%, C +8.5%, MS +11%, GS +6.3%.