European stocks ñ especially financials ñ are getting a boost today following news that a European Central Bank funding program gave out more money than anticipated.
A long-term lending program distributed 489 billion euros, when only about 310 billion in funding was expected.
The show of support for the liquidity of European banks is boosting the euro as well.
The Euro Trust (AMEX:FXE) is trading down .2% Wednesday, and the SPDR STOXX Europe 50 ETF (AMEX:FEU) is trading down nearly 1%.
Financial stocks in particular may see gains today, so investors will want to watch European bank stocks trades in the U.S., like Barclays (NYSE:BCS), UBS (NYSE:UBS) and Lloyds Banking Group (NYSE:LYG).
Credit Suisse (CS) and HSBC (HBC) may be trading on a combination of the ECB funding news as well as Credit Suisse's purchase of HSBC's Japanese private banking unit.
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