Behind this worse performance is the elevated weight of the banking sector in the Ibex-35, being one of the sectors with the worse performance – the Euro Stoxx Banks has risen 0.76% this year – as well as the country´s political instability, which keeps many investors on the side-lines of our market.
José Benito de Vega | Following the sharp fall compared to the Ibex 35 in the last two months of 2018 (-26% in November/December 2018 compared to the -4% of the Ibex 35), NH has performed relatively positively so far in 2019, with a rise of 22% compared to the 12% of the Ibex 35.
Banc Sabadell | We analyse the strategic plan for 2018-19, concluding that its target of average ROE 19-20 of 20% is achievable, given that it would imply post tax profits of around 940 million euros and we forecast that it could best this.
Bankinter | We are revising our recommendation for BBVA to Neutral from Buy because of the deterioration of the situation in Turkey.
US companies’ profits have exceeded forecasts by 4.6%, the European ones by 2% and Japanese firms by 6.7%. This has fuelled a strong rally in the stock markets in just a few weeks. But is there room for the markets to rise further?
Cristina Martín (GVC Gaesco) |With most investors on holiday in the month of August, stock market volumes are traditionally low. This factor, combined with the effect of specific economic and political events can fuel a rise in volatility and huge fluctuations in prices.
The CNMV and the government have been trying for years to get the big companies and Spanish banks to issue debt in Spain. But despite some reforms having been made, Spanish companies continue to head for Europe and even farther afield to ask investors for money.
Market commentators tell us that the price of Brent crude is dropping and indices like the S&P 500 and the Ibex 35 are falling. The reverse should be the case. Have we not been told that Spain has benefited from the decline in raw material prices? This cuts import prices, increases export margins, reduces pressure on wages etc. But it’s not the case. Oil prices have been tumbling for the last year, and whenever these begin start to tremble so do the stock markets.
MADRID | May 9, 2015 | By Fernando G. Urbaneja | Spanish banks are still the central pillar of the Spanish stock market: seven lenders account for nearly 40 percent of the IBEX-35 index.
MADRID | April 8, 2015 | By Fernando G. Urbaneja | Earlier this year, Santander announced a capital increase of €7 billion through an accelerated book building offer to institutional investors at a 12% discount on the traded share price, which was between €6-€7. Within hours, the new shares were sold and existing shareholders were left as bystanders once they had authorised the board to waive their preferential subscription rights.