2/13, 4:31 PM (Source: TeleTrader)
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Banks performance lower in February - Sentix

European banking sector's relative performance in February was overall low, the newest report by Sentix indicated on Wednesday. The measured figure came in at 2.36 standard deviations below the average, the report said, pointing to a new wave of weakness in the banking sector, particularly by Italian and French banks, as well as German financial giant Deutsche Bank AG.

According to the report, banks have been in crisis since the financial crash in 2008 and in the past eight years the sector has consistently performed below average. During the mentioned period, chances for price hikes were rare, Sentix said.

Additionally, the report stated that when a sector performs at more than 2 standard deviations below average, it is an indicator of a final phase of particular periods of weakness.

Breaking the News / SS