It takes a social democrat candidate to the French presidential election to push Banks 2017 P/Book to a 2-year high. As Carax-Alphavalue’s analysts report “whereas the banks hit a glass ceiling at 0.7x in the first half of 2016 (on 2016 figures), they were judged to become expensive at 0.85x and now trade at 0.9x”. The last leg is owed to the confidence surge around the euro, Europe and France since the democrat candidate emerged as a first- round winner.
Fernando Rodríguez | There are over 200 FinTech companies in Spain. Some are going full speed ahead with a variety of banking and investment activities: price comparisons, collective funding, loans and payments, ‘robo advisor’, property…”It’s all about offering more possibilities and more access to a more transparent market,” says Jesús Pérez president of the Spanish Association of FinTech and InsurTech.
Banco Santander delivered an attributable profit of €1,867 million during the first quarter of 2017, +14% compared to Q1 2016. Excluding currency movements, profit before tax increased by 17% to €3,311 million . The underlying business performance was strong, with positive trends in all markets and particularly good growth in Latin America, Spain and Santander Consumer Finance.Read More
John Bruton | British Prime Minister Theresa May has decided to call an early election before the practical outworking of her Brexit strategy becomes obvious to voters. She wants to be free to modify her strategy, and needs a bigger parliamentary majority. She claims otherwise. Instead, May says she is calling the election because the other parties oppose her Brexit strategy. They don’t oppose it, actually. They have cooperated with it to a point that makes little of parliamentary sovereignty.Read More