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Financials Down As Bitcoin Slide Hints At Risk Retreat -- Financials Roundup

11/27/2020 | 01:55pm EST

Shares of banks and other lenders and money managers fell amid signs of risk aversion on global markets.

The dollar price of digital currency bitcoin slid as a recent rally to near record highs stalled.

The British pound sterling remained stronger against the U.S. dollar as investors remained sanguine about the chances of an amicable divorce between the United Kingdom and the European Union.

"Markets are very relaxed still about the prospects of a deal, with the pound remaining near two and a half year highs against the dollar," said Craig Erlam, senior market analyst at foreign-exchange brokerage OANDA Europe, in a note to clients.

Spanish bank Banco de Sabadell said it would prioritize the domestic market as part of a new plan aimed at increasing profitability and creating value for shareholders, after talks over a potential merger with local rival Banco Bilbao Vizcaya Argentaria came to an abrupt end.

BBVA was conducting due diligence on Sabadell after agreeing to sell its operations in the U.S. to Pittsburgh-based PNC Financial Services Group for $11.6 billion.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

11-27-20 1354ET

Stocks mentioned in the article
ChangeLast1st jan.
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. -2.85% 4.022 Delayed Quote.2.60%
BANCO DE SABADELL, S.A. -2.20% 0.3816 Delayed Quote.10.23%
BITCOIN - EURO -0.21% 30271.69 Real-time Quote.29.20%
EURO / BRITISH POUND (EUR/GBP) 0.09% 0.88987 Delayed Quote.-0.48%
PNC FINANCIAL SERVICES GROUP, INC. 0.47% 155.46 Delayed Quote.3.88%
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