Santander and BBVA drop between two and three points on stock market after new banking tax announced in Italy

bolsa reloj espana 2

Intermoney| Yesterday was a bad day for the Ibex (-0.6%) which saw the effect of the new tax on banks in Italy also felt in the Madrid selective, which, however, at least maintains an advance in 2023 of +13%, in line with the EuroStoxx.

Among the stocks that suffered the most were Santander and BBVA, which dropped between 2 and 3 points. Unicaja and Sabadell also had a day to forget, both dropping by 2%.

Among the few positive news, at least Rovi and Grifols reflected yesterday’s good day for pharmas at the continental level with gains of around one percentage point.

Utilities, such as Iberdrola, were among the best stocks, gaining more than half a percentage point, something that was echoed by Solaria and Meliá.

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.