Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Bank of America Corp    BAC

Delayed Quote. Delayed  - 09/27 03:39:21 pm
15.03 USD   -0.40%
02:32p GOLDMAN SACHS' : sources
08:28a Sadia Halal Plans for Initial Public Offering (IPO)
04:00a BANK OF AMERICA : Merrill Lynch Fined $12.5 Mln On 'Mini-Flash Crash..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Bank of America Corp : Disorderly Euro Zone Break-up Could Weaken Brent Oil To $60 -BofA-ML

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/18/2012 | 01:26pm CEST

A disorderly break-up of the euro zone could push Brent crude prices to as low as $60 a barrel amid the resulting sharp European recession and negative global economic consequences, Bank of America Merrill Lynch (BAC) said Friday.

"If policy makers were unable to stem the contagion following Greece's exit from the euro, it could potentially lead to a chain reaction where other countries have few options but to opt out of the currency union as well," the bank said in a research note.

In the event of the disorderly broad euro zone break-up, oil demand in developed European economies could drop by 2 million barrels a day if the region's economy shrinks by 10%, the bank said.

"This could create a large demand gap in global oil balances resulting in oil prices falling sharply," it added.

But if Greece is the only country to leave the euro zone, Brent could fall to $80 a barrel, while the benchmark could drop to $100 a barrel if the possibility of Greece leaving the euro is explored but does not materialize, Bank of America Merrill Lynch said.

"Finally, if Greece is able to renegotiate its bailout package successfully and stays in the euro, Brent oil prices could rebound to $120 a barrel," the bank adds.

Thursday, the bank said it sees Brent crude averaging $118 a barrel this year and $120 a barrel in 2013, although another round of monetary easing in Europe could push prices as high as $140 a barrel over the next 12 months.

At 1006 GMT ICE July Brent was trading down 54 cents, or 0.5%, at $106.95 a barrel.

-By Konstantin Rozhnov, Dow Jones Newswires; +44 207 842 9956; konstantin.rozhnov@dowjones.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BANK OF AMERICA CORP
02:32p GOLDMAN SACHS' TOP SOUTHEAST ASIA IN : sources
08:28a Sadia Halal Plans for Initial Public Offering (IPO)
04:00a BANK OF AMERICA : Merrill Lynch Fined $12.5 Mln On 'Mini-Flash Crashes'
12:04a UPRISING ACTIVISTS : Charlotte mayor, police chief should resign
09/26 Fed seeks more capital from big banks, relief for regional lenders
09/26DJBANK OF AMERICA : Merrill Lynch to Pay $12.5 Million Fine for Mini-Flash Crashes..
09/26 BofA to pay $15.5 million fines for causing 'mini-flash crashes'
09/26DJBANK OF AMERICA : Merrill Lynch to Pay $12.5 Million Fine for Mini-Flash Crashes..
09/26DJMerrill Lynch to Pay $12.5 Million Fine for Mini-Flash Crashes
09/26DJBANK OF AMERICA : Merrill Lynch to Pay $12.5 Million Fine for Mini-Flash Crashes
More news
Sector news : Banks - NEC
02:55pDJStandard Chartered Faces U.S. Probe Over Indonesian Investment
02:53p Europe's bank angst sours U.S. debate rally
02:33pDJDEUTSCHE BANK : Germany's Merkel Keeps Mum on Possible Deutsche Bank State Aid
02:27pDJDEUTSCHE BANK : Germany's Merkel Keeps Mum on Possible Deutsche Bank State Aid
02:22p DEUTSCHE BANK : Merkel hopes temporary problems at Deutsche Bank can be solved
More sector news : Banks - NEC
News from SeekingAlpha
09/26 Bank Of America Retreats From Asia
09/26 This Is How Bank Of America Can Make You Rich
09/26 Bank Of America Remains Cheap - A Historic Look At Big Banks
09/26 Amazon's Next Step Toward Global Domination
09/26 Oh Stumpf... The Trouble For Wells Is Just Beginning
Advertisement
Financials ($)
Sales 2016 81 742 M
EBIT 2016 26 013 M
Net income 2016 13 716 M
Debt 2016 -
Yield 2016 1,65%
P/E ratio 2016 12,02
P/E ratio 2017 9,79
Capi. / Sales 2016 1,88x
Capi. / Sales 2017 1,79x
Capitalization 153 990 M
More Financials
Chart BANK OF AMERICA CORP
Duration : Period :
Bank of America Corp Technical Analysis Chart | BAC | US0605051046 | 4-Traders
Full-screen chart
Technical analysis trends BANK OF AMERICA CORP
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 17,4 $
Spread / Average Target 15%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Brian T. Moynihan Chairman, President & Chief Executive Officer
Thomas Kell Montag Chief Operating Officer
Paul M. Donofrio Chief Financial Officer
Thomas J. May Independent Director
Frank P. Bramble Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
BANK OF AMERICA CORP-10.34%153 990
JPMORGAN CHASE & CO.-0.38%237 596
INDUSTRIAL AND COML BA..-3.06%232 549
WELLS FARGO & CO-17.44%226 444
CHINA CONSTRUCTION BAN..-9.52%186 893
BANK OF CHINA LIMITED-15.21%150 082
More Results