Post by account_disabled on Jan 16, 2024 22:45:17 GMT -5
CaixaBank and Bankia closed the day with losses after learning the details of the merger agreement, in a bearish day in which banks and tourism-related securities have been punished by the negative evolution of the coronavirus pandemic. Bankia fell 4.76%, the fourth largest decline in the Ibex 35, while CaixaBank fell 2.18%, the smallest decline among the selective banks. However, since the merger negotiations were announced on September 3, the two entities have risen in the stock market. Bankia has gone from 1.0355 euros per share on that date to 1.372 at the close of this Friday, which represents an increase of 32%. CaixaBank shares have gone from 1.8155 euros on September 3 to 2.
02 euros at the end of today's session, an increase of 11%. The exchange ratio for the merger has been set at 0.6845 new CaixaBank shares for each Bankia share, which represents a premium of 20%. The rest of the Ibex 35 banks have also closed in the red today. Whatsapp Number List Sabadell has fallen 7.53%, the second largest decline on the selective, after Fitch lowered its credit rating. BBVA, which will leave the Euro Stoxx 50 on Monday, has lost 4.43%; Santander, which will leave the Stoxx Europe 50 index that same day, has lost 3.78%; and Bankinter has left 3.64%.
According to Ignacio Cantos, of ATL Capital, the future of the financial sector remains unclear. " This week the Federal Reserve announced that it will not raise rates at least until 2024. Surely, the European Central Bank (ECB) will not do it on its own before, so we will continue to have low rates," he explains. In this context, he adds, " it is difficult for the profitability of financial entities to improve, especially with the economic situation that we are going to experience in Spain." For José Luís Herrera, an analyst at Bolsanow the context of the CaixaBank-Bankia merger " is not benign for banks" due to the environment of low interest rates, the effects of the coronavirus epidemic and the situation of uncertainty.
02 euros at the end of today's session, an increase of 11%. The exchange ratio for the merger has been set at 0.6845 new CaixaBank shares for each Bankia share, which represents a premium of 20%. The rest of the Ibex 35 banks have also closed in the red today. Whatsapp Number List Sabadell has fallen 7.53%, the second largest decline on the selective, after Fitch lowered its credit rating. BBVA, which will leave the Euro Stoxx 50 on Monday, has lost 4.43%; Santander, which will leave the Stoxx Europe 50 index that same day, has lost 3.78%; and Bankinter has left 3.64%.
According to Ignacio Cantos, of ATL Capital, the future of the financial sector remains unclear. " This week the Federal Reserve announced that it will not raise rates at least until 2024. Surely, the European Central Bank (ECB) will not do it on its own before, so we will continue to have low rates," he explains. In this context, he adds, " it is difficult for the profitability of financial entities to improve, especially with the economic situation that we are going to experience in Spain." For José Luís Herrera, an analyst at Bolsanow the context of the CaixaBank-Bankia merger " is not benign for banks" due to the environment of low interest rates, the effects of the coronavirus epidemic and the situation of uncertainty.
