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UBS upgrades European banks.

Global Banking News-8 January 2010-UBS upgrades European banks(C)2010 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 08 January 2010(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

UBS AG (NYSE: UBS) has upgraded European banks to 'overweight.'

Analysts at the bank have raised their recommendations for Barclays Plc (LSE: BARC) and Deutsche Bank AG (NYSE: DB).

Analysts wrote, 'January has started strongly, with corporate debt issuance at 2009 levels and major M&A. Government and bank debt issuance; interest rate and exchange rate volatility; and a fading of the 'flight to cash' by retail investors set up a healthy picture for 2010 investment bank revenues.'

UBS AG has upgraded Barclays Plc and Deutsche Bank to 'buy' from 'neutral'.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

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Publication:Global Banking News (GBN)
Date:Jan 8, 2010
Words:144
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