The bank crisis is dragging to the Entities that they quote in the Spanish Stock Exchange. 2009 will be probably a historical year for this sector that it has seen as in 2 months it has lost almost so much how in the whole 2008.
BBVA falls down already 39,38 % in what it goes of year. Santander does it in 32 %. Sabadell 36,49 %. Popular, 39,97 %. Banesto, 33,17 % … and this way we might continue with the majority of quoted in the Spanish parquet.
The suspicion, the bad news, the widespread fears to which in Spain it goes on what has happened in other countries with failures and creditors' contests, and finally, and to have just sunk to variso of these values, the logical reviews of ratings.
Two days ago it was Goldman Sachs who checked the casualty his forecasts on the Spanish banking. With the medium banking the investments signature recommended to sell I drove them of Popular, Sabadell, Bankinter and Banco Pastor, while it reduced them to neutral to BBVA and Santander. Also, it cut his objective prices away strongly, so that to Popular it applied to him a clipping of 50 %, with an objective price for 3,36 euros. Sabadell was left in 2,37 and to Banesto in 5,48.
Yesterday for his part, it was S&P the one that it put in review to Santander and BBVA, placing them in negative perspective, for the economic situation of the country in which they operate, Spain, and for the impact that he will suppose in his financial situation. Also, Madrid has reduced the qualification to Box, Popularly, Ibercaja, and Sabadell.
Bad winds blow for the Spanish banking, undoubtedly, affected also by an economic situation that is every time worse in our country, which is one of most affected of Europe. Nevertheless, the quotations are reaching levels that nobody could imagine only one year ago. At present, and although in the long term, these can already be very advisable, short-term levels, it is prudent to stay removed from the sector, or in any case, to be doing small earnings in chosen values, preferably, of the principal banks of our economy, BBVA and Santander. The medium banking most affected at the moment by the fears, it is better to support it out of our portfolios until the recommendations and the financial situation improves.
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