iShares Stoxx Europe 600 Bank ETF & Bank of Ireland– Reducing exposure Last Thursday, we reduced our exposure to Here is one answer from cantor Fitzgerald.
the iShares Stoxx Europe 600 Bank ETF (SX7PEX GY Equity, Previous Close €21.62) from 4% to 2% in our Core Portfolio. We are taking profit on half our position after its impressive +17% gains YTD. We think European banks are susceptible to weakness over the coming weeks as a result of fears regarding potential Greek default. If Greece were to default, riskier assets should come under selling pressure, ultimately having a more severe impact on European banks due to contagion fears. We also advise taking profit on Bank of Ireland (Previous Close €0.35), and will look to re-enter long positions once greater clarity on Greece is reached. S
grexit isnt a country, and neither is allmexit allmexit was in reference to a previous post as for john being a good man, anyman whom trys as hard as that man to get his fact correct is worthy of the recognition,
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