Frankfurt Bank stocks have done unusually well this year. They were one of the few sectors to also end September in positive territory. Deutsche Bank has achieved an increase of around 28 percent since the beginning of the year. That would be eighth place in the Dax, which has now been increased to 40 values. In the Euro Stoxx 50, ING is even at the top of all values with a plus of around 65 percent, and BBVA, Intesa and Santander also did well.
The securities could have potential for further price increases: Compared to the broad Stoxx 600 index, European banks are currently trading at a discount of 40 percent. After around ten years of below-average performance, shares in banks are still cheap, if you look at them. With a price / earnings ratio of nine, banks are Europe’s third cheapest sector, only the auto industry and mining are valued even lower.
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