Spanish bank index down 9% since yield jump; Jefferies changes ratings
FROM THE WIRE · FINANCE.YAHOO.COM
Investing.com -- The SX7E banking index has fallen 9% since a September jump in bond yields, but brokerage Jefferies said the fundamentals of Spanish banks remain intact as it upgraded Spanish lender Bankinter to "buy" from "hold" and cut Banco Santander to "hold" from "buy"…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishJefferies' downgrade of Santander and upgrade of Bankinter affect Iberian bank stocks.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01The SX7E index has fallen 9% since a September jump in bond yields.
- 02Jefferies upgraded Bankinter to buy and cut Banco Santander to hold.
- 03The sector trades at 10.6 times earnings, down from 11.5 times.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Banco Santander, S.A.11.75 EUR+0.89%today -0.15%Negative Bankinter, S.A.15.01 EUR+0.77%today +0.30%Positive
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets