CaixaBank | Everything is ready for the inauguration of the 2016 Olympic Games in Rio de Janeiro on Friday. This is the most important global sporting event and Brazil is the first South American country ever to have hosted the games. But what will the economic impact be for the country which is in recession?
Norbolsa | CaixaBank posted overall solid figures in the first half to 2016, particularly with regard to its net interest margin.
Housing sales in Spain increased by 19.4% year-on-year in June to 36,856 units, the largest figure since January 2013.
Norbolsa | Bankia’s (BKIA) interest margin fell more than expected in the first half of 2016, but the lender’s ability to lower provisions and costs offset this to some extent.
Norbolsa | After a disappointing first quarter performance, BBVA’s second quarter 2016 results beat estimates, showing a good performance across the board.
The Bank of England announced it will cut rates for the first time in 7 years, to lowest level ever (0.25%), and expands QE by £60bn (including corp) in an attempt to stimulate the economy.
Norbolsa | Santander’s first half 2016 results were overall positive, underpinned by a reduction in the cost of risk across most of the bank’s divisions and a good performance on the costs and commissions side.
Norbolsa | The change in trend in lending has been the most positive element in the Spanish banks’ first half 2016 results.
Julius Baer | For the market, the additional budget package is insufficient to stimulate the economy but seemingly too much to leave yields where they are.
Citi | ACS’ first half 2016 results were broadly in line with consensus estimates, although net income came in slightly lower at €388 million euros vs consensus of €411 million (-5%).