Gavekal Capital: Some Ugly Declines in Europe Today
Thursday, February 13, 2014
Some Ugly Declines in Europe Today
The big news seems to be that BNP Paribas set aside over $1B to pay for possible penalties related to transactions that violated U.S. laws. As a result, the stock fell nearly 4% today.
However, while today's decline will not affect the long-term chart for BNP Paribas too negatively, the double-digit declines in Rolls Royce and Tate & Lyle likely will have significant effects on each stock's performance relative to the MSCI World: