U.S. Bank Stocks Lag Europe After Years of Outperformance: Chart
(Bloomberg) -- U.S. lenders are sliding in 2017 as their European counterparts rally, on course to reverse a trend that's been in place for the past seven years. The KBW Bank Index slumped more than twice as much as the Euro Stoxx Banks Index on Wednesday after Wall Street banks signaled a decline in markets revenue. All may not be lost: The recent underperformance has led JPMorgan Chase & Co. analyst Kian Abouhossein to recommend U.S. lenders over their European peers, citing better valuations and more scope for gains.
--With assistance from Justina Lee
To contact the reporter on this story: Namitha Jagadeesh in London at njagadeesh@bloomberg.net.
To contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net, Angela Cullen, John Viljoen
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