The Deal
Sunday, November 22, 
4:22 am

International Bank Watch: Financials rally, but layoffs loom

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Global markets surged on hopes of a U.S. stimulus package. Japan's Nikkei 225 Average increased by 411.54 points to 8329.05 while the FTSEurofirst 300 climbed 249.88 points to 4299.25. Bank stocks were mostly in the green.

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UBS stocks were up even though a newspaper, SonntagsZeitung, reported it may slash 4,500 more jobs in the next few weeks. Royal Bank of Scotland Group plc stocks were up, as the bank is hiring a team to sell off assets after a government bailout. Assets the bank will sell will be announced by February. Barclays plc will lay off 109 in Cardifff, Wales. Reportedly more investment banking job cuts will be made in Glasgow, Scotland. Standard Chartered plc was down Monday morning, but reports were that the bank expects to gain $384 million after buying back $1 billion of floating rate notes. - Maria Woehr

Troubled International Banks
Prices at 11:30 am EDT
Name Open Price at
11:30am
Change Mkt cap
UBS 12.6 13.20 0.69 37.45B
Barclays plc 153 159.10 20.80 13.31B
BNP Paribas SA 42.97 43.15 4.04 38.60B
Deutsche Bank AG
34.14 35.77 1.61 19.51B
Royal Bank of Scotland Group plc 19.95 20.13 0.67 39.71B
Royal Bank of Canada 38.49 38.41 2.01 51.51B
HSBC Holdings plc 739 747.50 37.50 90.51B
Lloyds TSB Group plc
164 158.80 8.80 9.61B
Standard Chartered plc 800 765.50 -2.50 14.51B
Toronto-Dominion Bank 44.25 45.10 1.77 36.40B
Mitsubishi UFJ Financial Group Inc. 5.05 4.78 0.13 52.90B
Source: The Deal




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