European banking stocks slide on falling profit

<p> <a href="https://admiralmarkets.com/analytics/traders-blog/european-banking-stocks"><img data-resize="auto" data-resize="auto" data-resize="auto" style="width:auto;" data-src="https://fxmedia.s3.amazonaws.com/articles/remote/8cc929bc15357964803358a2f8504938.jpeg" rel="" alt="European banks slide"></a> </p><p> Two European banking heavyweights have posted falling profits relate to coronavirus-related loan losses, marking a gloomy period ahead for the banking sector. </p><p> In its latest earnings report Barclays posted net income of just £695 million for the first six months of the year. This is after reporting a 42% fall in profit in the last earnings report with a £1.6 billion credit impairment charge for dealing with loans and mortgages turning bad due to the coronavirus pandemic. </p><p> While income rose 8% compared to last year - mostly due to higher trading profits from the recent market volatility - the bank's pre-tax profit more than halved from £3.1 billion last year to £1.3 billion. </p><p> Did you know you can speculate on the price of banking stocks using Contracts for Difference (CFDs)? This allows you to potentially profit from both rising and falling markets. Get started with a <a href="https://admiralmarkets.com/start-trading/forex-demo">free demo trading account</a> today! </p><p> Banking giant Deutsche Bank also posted a second-quarter net loss in its latest earnings report, largely due to allocating credit loss provisions in the amount of €761 million. While the second-quarter loss amounted to €77 million, it is much less than last year's loss for the same period of €3.2 billion. </p><p> The bank now anticipates that its full-year revenue will most likely be flat but does offer a more optimistic forward guidance than analyst expectations and the bank's own previous forecasts. </p><h2>How to trade banking stocks with Admiral Markets UK Ltd</h2><p> If you are feeling bullish or bearish on banking stocks you can speculate on its price direction using CFDs. To get started, follow these five simple steps: </p><ol> <li>Log in to your existing Admiral Markets trading account, or open a <a href="https://admiralmarkets.com/signup">live</a> or <a href="https://admiralmarkets.com/start-trading/forex-demo">demo trading account</a> in just a few minutes. </li> <li>Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform. </li> <li>Type in a banking stock like Barclays or Deutsche Bank at the bottom of the Market Watch search box and then drag the symbol onto the chart. </li> <li>Use the one-click trading feature on the chart or right-click on select Trading -&gt; New Order. </li> <li>Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.</li> </ol><p> <img data-resize="auto" src="https://fxmedia.s3.amazonaws.com/articles/remote/52ae768c1d81fa993254b3887856b3ed.png" rel="" alt="Barclays monthly strategy chart" /> </p><p> <em>Source: Admiral Markets MetaTrader 5 Web, #BARC, Monthly - Data range: 1 July 2006 to 28 July 2020. Please note: Past performance is not a reliable indicator of future results. </em> </p><p> Did you know that you can open a free demo trading account so you can test your trade ideas and theories regarding the price direction of banking stocks in a virtual trading environment? Open your free account today by clicking on the banner below: </p><p><a href="https://admiralmarkets.com/start-trading/forex-demo"><img data-resize="auto" src="https://fxmedia.s3.amazonaws.com/articles/Demo_Account_CTA-17.png" alt="Trade With A FREE Demo Trading Account" rel="" /></a> <br> </p><p><em><strong data-redactor-tag="strong">INFORMATION ABOUT ANALYTICAL MATERIALS</strong>:</em></p><p><em>The given data provides additional information regarding all analysis, estimates, prognosis, forecasts, market reviews, weekly outlooks or other similar assessments or information (hereinafter "Analysis") published on the website of Admiral Markets. 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