Tuesday, November 4, 2008

Irish Banks Trading Below Cash

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A couple of the Irish banks have cropped up on the radar of US stock watchers screening for companies trading below cash value. Whether they remain publicly traded issues through the current turmoil is open to debate but they are certain watchlist material:

The Irish banks weren't the only European banks mentioned. Banco Santander (SAN) hasn't suffered to the same degree as Allied Irish banks (AIB) and Bank of Ireland (BKIR) but still fits the cash value definition:

Banco Bilbao (BBVA) was another 'value' bank:

Can they weather the storm?

Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts, and stock charts website