European stocks fell Thursday after European Central Bank decided to leave its key interest rate at a record low of 0.25 percent. ECB staff has predicted inflation to average just 1.1 percent in 2014, followed by 1.3 percent in 2015, which was below the ECB’s target of just under 2.0 percent. "While deflation seems to be right around the corner, there are growing doubts about the ECB's willingness to act decisively to boost the economy. It's a question of credibility at this point," FXCM analyst Vincent Ganne said. Here is how some foreign bank stocks reacted Thursday:
Barclays PLC (NYSE: BCS) shares traded in the range of $17.06 to $17.33 Thursday before settling to close at $17.16, a decrease of 0.64 percent. The stock appears to be facing some resistance at the $17.95 and $18.95 levels with some support at $17.12. Shares of Barclays have fallen approximately 1.0 percent in 2013.
More information on Barclays and access to the free equity report can be found at:
www.WallStreetFundamentals.com/BCS
Credit Suisse Group AG (NYSE: CS) shares traded in the range of $28.95 to $29.33 Thursday before settling to close at $29.06 a share. The stock appears to be facing some resistance at the $30.08 and $31.32 levels with some support at $28.92. Shares of Credit Suisse Group have gained approximately 18.0 percent in 2013.
More information on Credit Suisse Group and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CS
Deutsche Bank AG (NYSE: DB) shares traded in the range of $45.93 to $46.61 Thursday before settling to close at $46.08, a decrease of 1.29 percent. The stock appears to be facing some resistance at the $46.36 and $46.80 levels with some support at $45.58. Shares of Deutsche Bank have gained approximately 4.0 percent in 2013.
More information on Deutsche Bank and access to the free equity report can be found at:
www.WallStreetFundamentals.com/DB
HSBC Holdings plc (NYSE: HSBC) shares traded in the range of $53.74 to $54.20 Thursday before settling to close at $53.88, a decrease of 0.90 percent. The stock appears to be facing some resistance at the $55.57. Shares of HSBC Holdings have gained approximately 1.5 percent in 2013.
More information on HSBC Holdings and access to the free equity report can be found at:
www.WallStreetFundamentals.com/HSBC
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