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Markets

Markets 21st March 2014

Today’s market chatter in Spain

MADRID | By Jaime Santisteban | After the storm always comes the calm, and the dividend. Bankia’s Chairman José Ignacio Goirigolzarri revealed in the General Shareholders Assembly on Friday when first dividend will be distributed, probably in 2015. Restructuring plan (in record-breaking time) prevented the bank from doing so in 2014 and 2014. Reward wouldn’t just benefit small stockholders but also the State, that would get back part of the €22.4bn disbursed for BFA-Bankia bailout.

Markets 20th March 2014

Why is the ECB so demanding with Spanish banks?

MADRID| By Francisco López | Spanish banks are the most closely examined in the world, but it does not seem to be enough for supervising institutions. The ECB has urged them to undergo a new and comprehensive assessment of their exposure to real state sector before the European banking industry’s Asset Quality Review previous to the stress tests that will take place by the end of the year. The central bank has rejected that Spain’s entities use 2012’s review by audit firm Oliver Wyman. Even though ,they reckon, that would save money and time.

Markets 20th March 2014

Today’s market chatter in Spain

MADRID | By Jaime Santisteban | Moderate falls on European stock markets today as they assimilate this ‘hawkish’ message from the Fed. In Spain, another operation adds to Prisa’s restructuring of its debt burden of over 3 billion euros.

Markets 19th March 2014

Today’s market chatter in Spain (focused on Inditex)

MADRID | By Jaime Santisteban | Inditex is pushing Spanish Ibex 35 upwards today as its growth reaches maturity stage. The owner of Zara is working to reduce operative costs. However, its shareholders will get a 10% higher dividend. Bankinter considers the Spanish firm results to be somewhat weak. Euro’s strengh, slow domestic recovery, emerging countries slowdown could explain such underperformance.

Markets 19th March 2014

“Frankfurt cannot supervise all 6,000 banks in the Eurozone”

MADRID | By Luis Alcaide, Luis Martí and Jaime Santisteban | Deputy Director General at the European Union’s Financial Services Nadia Calviño considers that the EBA must keep playing an important role in the coordination of the financial supervision. She believes that transparency is a key issue that must prevail within the process of the European integration in the Eurozone.

Markets 18th March 2014

Today’s market chatter in Spain

MADRID | By Jaime Santisteban | Markets consolidate advances reached yesterday and Wall Street endeavours to awaken from its slumber with an increase of about 1%. No earthquake in sight, provided that sanctions for Russia remain light. America didn’t disappoint: industrial production grew in February by 0.6 %. In Spain, Sacyr will continue to celebrate the agreement to conclude the works of the Panama Canal and Jazztel benefits from the Vodafone-ONO operation.

Markets 17th March 2014

Today’s market chatter in Spain

MADRID | By Jaime Santisteban | “Let’s wait and see but time is running out,” Bankinter analysts weigh in. This week is meant to be decisive for markets and the global economy with the Ukraine-Crimea-Moscow saga and China overshadowing the rest of the news.

Markets 16th March 2014

Land of the Free and Home of the Debt

WASHINGTON | By Pablo Pardo | Does anybody remember where the Standard and Poor’s 500 Index was five years ago? At 666. Since then, the S&P 500 has gone up a whopping 175 percent. The market has defied fiscal cliffs, Republican obstructionism, three rounds of Quantitative Easing, the start of the Fed’s ‘tapering’, the change in Chinese leadership, the euro near-collapse, a nuclear catastrophe in Japan, a wave of revolutions in the Middle East, and even a Russian invasion of Crimea.

Markets 14th March 2014

Today’s Talk Of The Market In Spain

MADRID | By Jaime Santisteban | It could be a big deal. The Spanish government has to evaluate a comprehensive report on the tax system reforms handed by an experts’ comittee “We have spared no one,” they’ve said. Will this really boost simplicity and efficiency? Market makers await further details about where the government stands on each proposal. Besides, focus remains in Ukraine ans the polemic referendum in Crimea, and in China, whose PM announced that more defaults are coming.

Markets 13th March 2014

Today’s Talk Of The Market In Spain

MADRID | By Jaime Santisteban | BBVA takes a look on the bright side of the Spanish economy in 1Q14: growth, exports, domestic demand, labor market, public spending reduction. Santander urges the EU to hasten arrangements on SRM to meet Banking Union agenda. Otherwise, stress tests won’t have credibility.

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