Spain's Bankia Free-Falls On Bank Run Rumors
Tweet
Share
E-mail
Another day, another European bank debacle.
Following talk of bank runs in Greek since the start of the week, now Spainish banks come back to the forefront.
Shares of recently nationalized Spanish bank Bankia plunged on word customers have taken out EUR 1 billion from their accounts over the past week, according to El Mundo newspaper.
Spain took over the bank on May 9.
In response to rumors of a run, the Bank of Spain said the depositor exitus is not true.
Traders may be playing ETF iShares MSCI Spain Index (NYSE: EWP) in reaction to the news.
Following talk of bank runs in Greek since the start of the week, now Spainish banks come back to the forefront.
Shares of recently nationalized Spanish bank Bankia plunged on word customers have taken out EUR 1 billion from their accounts over the past week, according to El Mundo newspaper.
Spain took over the bank on May 9.
In response to rumors of a run, the Bank of Spain said the depositor exitus is not true.
Traders may be playing ETF iShares MSCI Spain Index (NYSE: EWP) in reaction to the news.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- 30-year mortgage rate dips to 6.65%, second weekly decline
- Tech selloff weighs down Wall Street as bond yields climb
- Wall St rises on the day but falls for the week; bond yields and Iran in focus
Create E-mail Alert Related Categories
ETFs, Market Check, Trader TalkSign 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!
