TITLE

Banks, Brokers Near 52-week High

AUTHOR(S)
Santini, Laura
PUB. DATE
April 2003
SOURCE
Investment Dealers' Digest;4/28/2003, Vol. 69 Issue 17, p14
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The stocks of major banks and securities firms are nearing their 52-week highs. Over 2002, disasters such as Enron Corp. and scandals such as research conflicts conspired with a deal drought to choke the life out of brokerage and bank shares. The market seems to think the worst is behind the industry and is looking for a better future, although some believe that the optimism might be a little premature. Higher valuations probably mean mergers & acquisitions among financial companies will remain stalled for awhile. Commercial banks, the likely buyers of brokerage firms, aren't eager to buy into the investment banking business right now.
ACCESSION #
9845522

 

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