Spanish economy

BBVA Sabadell

BBVA takes aim again at Sabadell

Jefferies | A press leak earlier this morning seems to have unveiled renewed merger talks between BBVA (Buy) and Sabadell (Restricted). We provide some food for thought and outputs under different scenarios. We can see the merits for such a deal from the vantage of BBVA, but we remain expectant on whether both parties can agree on sensible terms. Our baseline scenario suggests 3.5% EPS accretion on just 20bps CET1…

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Bank of Spain warns government that housing policy – rent cap etc. – is having opposite effect to that intended

The Bank of Spain reviews the main real estate measures promoted by the Government, both in the purchase and rental segments, and concludes that they could end up resulting in an increasingly smaller market with higher prices. The BdE analyses rental price controls, a measure introduced temporarily by the decree on anti-crisis measures after the Russian invasion of Ukraine but made permanent by the housing law passed in April last…