If you watched bank stocks on Monday, then you probably saw how the Irish banks may be in for a massive 2010 as Allied Irish Bank (NYSE: AIB) and Bank of Ireland (NYSE: IRE) were both up huge. Despite these two being hit with negative ratings in new coverage at Barclays this morning, both banks are trading higher after double-digit gains. At 8:52 AM EST we have AIB up 3.8% at $4.28 on 80,000 pre-market shares and Bank of Ireland (IRE) is up 3.3% at $9.15 on 45,000 pre-market shares.
More bankground is here on yesterday’s move and how it was affecting the other troubled banks in the EU countries which are under the cloud of ratings agencies.
Jon C. Ogg
January 5, 2010
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