Spanish Banks In Free-Fall As Bankia Could Be Nationalized
Tweet Send to a Friend
Get Alerts STD Hot Sheet
Trade STD Now!
ABC news is now reporting Spain is preparing the nationalization of beleaguered bank Bankia Group today. At the close of the market, the state will inject 4.465 million EUR into Bankia Group.
Other banking stocks in Spain are also getting crushed with Banco Santander, S.A. (NYSE: STD) down 6% and Banco Bilbao Vizcaya Argentaria, S.A. (Nasdaq: BBVA) down 6.4%.
The iShares MSCI Spain Index (NYSE: EWP), an ETF which tracks Spanish stocks, is down 4.5 percent.
US financial stock are also taking a hit on the news, with the Financial Select Sector SPDR (NYSE: XLF) down over 1 percent in early trading, as contagion fears ripple through the market.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Other banking stocks in Spain are also getting crushed with Banco Santander, S.A. (NYSE: STD) down 6% and Banco Bilbao Vizcaya Argentaria, S.A. (Nasdaq: BBVA) down 6.4%.
The iShares MSCI Spain Index (NYSE: EWP), an ETF which tracks Spanish stocks, is down 4.5 percent.
US financial stock are also taking a hit on the news, with the Financial Select Sector SPDR (NYSE: XLF) down over 1 percent in early trading, as contagion fears ripple through the market.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- J.P. Morgan (JPM) CEO Dimon Might Have Enough Votes to Stay Chairman - NY Times
- UPDATE: Shares of Sony (SNE) Spike; Considers Spinning Entertainment Arm
- UPDATE: Cell Therapeutics (CTIC) on The Move
Create E-mail Alert Related Categories
ETFs, Trader Talk
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
