Investing
15 Euro Stocks That Lost Over 10% to 25% After Brexit Shock
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Thursday’s unexpected U.K. vote to walk out of the European Union shocked equity, currency, and commodities markets Friday. The dollar strengthened against both the euro and the British pound and that helped chase investors out of the equity markets and into the relatively safer havens of gold, dollars, and yen.
There were essentially no safe havens in European-traded equities Friday, and it didn’t matter what the underlying goods were or where the stock traded. While Brexit may not turn out as badly as many fear, it will generate a lot of uncertainty for a while. Britain’s actual leave date could be as much as two years away.
Here is our look at 15 European-based stocks that dropped at least 10% of their value on U.S. markets in Friday’s session.
As one of the largest automakers in Europe, it is no surprise that Fiat Chrysler Automobiles N.V. (NYSE: FCAU) makes the list. Shares closed down 12% at $6.31, with a consensus analyst price target of $9.77 and a 52-week trading range of $5.78 to $10.93.
ArcelorMittal (NYSE: MT) operates an integrated steel and mining business worldwide, which feeds into the British market to a degree. Shares of ArecelorMittal closed down nearly 16% at $4.53. The stock has a consensus analyst price target of $6.40 and a 52-week trading range of $2.93 to $10.51.
Eni SpA (NYSE: E) is involved in the oil and natural gas exploration, and field development and production activities, as well as liquefied natural gas (LNG) operations. It is based out of Italy. Shares of Eni SpA closed down 11% at $29.71, with a consensus analyst price target of $40.55 and a 52-week trading range of $24.73 to $37.88.
Liberty Global PLC (NASDAQ: LBTYA) is another London-based company feeling the burn from the Brexit. Shares closed down 13% at $28.80. The stock has a consensus analyst price target of $48.48 and a 52-week trading range of $29.16 to $56.70.
Telecom Italia S.p.A. (NYSE: TI) didn’t see too many of its shares move on Friday, but despite the lack of volume the shares closed down 19% at $7.57. The stock has a consensus analyst price target of $16.89 and a 52-week trading range of $7.50 to $14.18.
Telefónica S.A. (NYSE: TEF) was last seen down 17.5% at $8.66. Over 6.3 million shares moved on the day. The stock has a consensus analyst price target of $11.29 and a 52-week trading range of $8.58 to $15.54.
Lloyds Banking Group PLC (NYSE: LYG) was part of the Financial Sector that was hurt the worst from the Brexit. The company primarily provides banking and financial services in the UK. Shares of Lloyds closed down 23.5% at $3.32, with a consensus analyst price target of $4.94 and a 52-week trading range of $3.17 to $5.57.
The Royal Bank of Scotland Group PLC (NYSE: RBS) is another of the major banks that operates within the UK. Shares closed down 27.6% at $5.42. The stock has a 52-week trading range of $5.41 to $11.61.
Barclays PLC (NYSE: BCS) has seen roughly 73 million shares move on the day. The stock closed down 20.6% at $8.88, with a consensus analyst price target of $13.96 and a 52-week trading range of $8.13 to $18.05.
Banco Santander S.A. (NYSE: SAN) saw a huge spike in its volume with over 78.5 million shares moving on the day. Shares closed down 20% at $3.83. The stock has a consensus analyst price target of $4.96 and a 52-week trading range of $3.69 to $7.61.
BT Group PLC (NYSE: BT) provides communications services worldwide but its primary base is London. Shares closed down 18% at $26.86, with a consensus analyst price target of $44.91 and a 52-week trading range of $26.46 to $37.69.
Banco Bilbao Vizcaya Argentaria S.A. (NYSE: BBVA) is a Spanish-owned bank that operates primarily in the North and South America. Shares of BBVA closed down 18.9% at $5.38. The stock has a consensus analyst price target of $6.45 and a 52-week trading range of $5.24 to $10.58.
ING Groep N.V. (NYSE: ING) is a European bank that provides financial services to individuals, small and medium-sized enterprises, and mid-corporates. Shares of ING closed down 18.9% at $10.18, with a consensus analyst price target of $16.57 and a 52-week trading range of $10.17 to $17.39.
Prudential PLC (NYSE: PUK) offers health, disability, critical illness, and accident coverage products; and life insurance products, as well as pension products and annuities, across its platform in both the U.S. and the UK. Shares of Prudential closed down 17% at $33.48. The stock has a consensus analyst price target of $50.75 and a 52-week trading range of $31.30 to $51.26.
Deutsche Bank AG (NYSE: DB) is perhaps one of the larger regional European banks. Undoubtedly it is feeling the sting from Brexit. Shares closed down 17% at $14.74, with a consensus analyst price target of $19.60 and a 52-week trading range of $14.13 to $35.38.
Credit Suisse Group AG (NYSE: CS) was hit hard by the Brexit, but this bank stood up to the market turbulence better than most of the financials that were rocked on Friday. Shares of Credit Suisse closed down 16% at $11.51. The stock has a consensus analyst price target of $14.66 and a 52-week trading range of $11.57 to $29.99.
UBS Group Ag (NYSE: UBS) is another of the major regional European banks that suffered from UK’s departure. On the day over 6.7 million shares were traded. Shares of UBS closed down 13.4% at $13.94, with a consensus analyst price target of $13.86 and a 52-week trading range of $13.68 to $23.19.
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