ositive on banks that can make acceptable returns in the current environment and are geared into the upside when rates begin to recover... ING, KBC, Intesa, Unicredit, SocGen, Erste, BKIR are all Buy rated. Global Equities Z Bank of America Specialist Sales — European Financials Merrill Lynch MAR dis

*March Retail Comps out tonight and tomorrow morning*** Commerzbank will raise Cl1B in order to repay C14.3B of state aid (inline) (trading +2.0%) Intesa plans to sell as much as C5B of new shares by July to boost capital (inline) (trading +1.7%) Deutsche Bank may seek shareholder approval to raise u

it's been for several =ears. Yet on our work, it's still a top-3 =nderweight sector in Europe. The big caveat is margin pressure. Buys ==ING, KBC, Intesa, SocGen, Erste, =KIR. Caution on Spanish banks given valuation, risks around NPAs. More positive Italians post capital raisings: Buy =nicredit. Rece