Technology: Apple worth as much as euro zone banks
Earlier on Friday the DJ STOXX euro zone banks index fell four per cent, valuing its 32 members at $340 billion.
LONDON:
US technology company Apple is now worth as much as the 32 biggest euro zone banks. That’s the stark result from a steep fall in the share price of banks including Spain’s Santander, France’s BNP Paribas, Germany’s Deutsche Bank and Italy’s Unicredit, compared to a steady rise in Apple’s valuation, according to Thomson Reuters data. Earlier on Friday the DJ STOXX euro zone banks index fell four per cent, valuing its 32 members at $340 billion. That’s based on the market capitalisation of their free-float shares, which for some French banks in particular is less than 100 per cent. The index has crashed by a third since the start of July, hammered by fears banks will lose billions from their holdings of euro zone government bonds.
Published in The Express Tribune, August 21st, 2011.
US technology company Apple is now worth as much as the 32 biggest euro zone banks. That’s the stark result from a steep fall in the share price of banks including Spain’s Santander, France’s BNP Paribas, Germany’s Deutsche Bank and Italy’s Unicredit, compared to a steady rise in Apple’s valuation, according to Thomson Reuters data. Earlier on Friday the DJ STOXX euro zone banks index fell four per cent, valuing its 32 members at $340 billion. That’s based on the market capitalisation of their free-float shares, which for some French banks in particular is less than 100 per cent. The index has crashed by a third since the start of July, hammered by fears banks will lose billions from their holdings of euro zone government bonds.
Published in The Express Tribune, August 21st, 2011.