|Day's range||7,517.30 - 7,632.30|
|52-week range||5,814.50 - 10,100.20|
Spain's Bankinter <BKT.MC> said on Thursday first quarter net profit fell 10% due to higher loan loss provisions from the coronavirus outbreak which forced the lender to increase guidance on the cost of insuring its loan book. The country's fourth largest bank by market value reported a net profit of 130.3 million euros (113.85 million pounds) in the January to March period. Analysts polled by Reuters had expected net profit of 117 million euros.
MILAN/MADRID (Reuters) - Italy and Spain imposed trading curbs on stock markets, banning short-selling of dozens of stocks, to stem a market rout triggered by the coronavirus outbreak that saw European stock exchanges post their worst-ever daily losses. Italy and Spain made the move as alarm over coronavirus intensified and sent stock markets into a tailspin. The Dutch financial watchdog said it saw no reason for a ban.
* European stocks turn negative after opening higher * Trump restores Brazil, Argentina tariffs, sinking European stocks * European manufacturing PMIs beat forecasts * Pan-European STOXX 600 down 0.6% Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. Reach him on Messenger to share your thoughts on market moves: firstname.lastname@example.org THE INFECTIOUS TTT TRAVELS FROM CHINA VIA EUROPE TO LATAM (1402 GMT) TTT = Trump tariff threat. This morning's rally in Europe is nowhere to be seen now: stocks have gone from +0.5% to -0.6% in the last couple of hours as Trump's tariff tweets are back.
Kyle Dennis took a leap of faith and decided to invest his savings of $15K in the stock market — $2.8M later, he owes his success to these strategies
Spanish stocks have been hit hard by worries that a possible coalition government of the Socialist and far-left Podemos parties could overspend and tax banks, although analysts say their lack of a majority should curb any policy radicalism. "Podemos is a radical left party that's not well known by investors and that has triggered fears about what ... a coalition government with the Socialists would do in terms of economic policies (and) public spending," said Jesus Castillo, an economist at Natixis in Paris. Among investors' fears is a possible bank tax that has been discussed in the past, or a rethink of plans to privatise state-controlled Bankia <BKIA.MC>, which was bailed out by the government in 2012.
Investing.com -- Yields on Spanish government bonds rose and the premium over the benchmark German bond widened after acting Prime Minister Pedro Sanchez invited the populist left-wing Unidos Podemos party to form a coalition government. It's the first time that Podemos, which has loudly dissented against the euro zone's fiscal policy in the past, would be represented in government at the national level.
Investing.com -- The escalation of violence in Hong Kong over the weekend has cast a pall over European stock markets on Monday, reinforcing a “risk-off” move that was already underway thanks to comments from the U.S. playing down the chances of a mutual reduction in import tariffs with China.
Santander <SAN.MC> reported a 75% fall in third-quarter net profit after one-off costs in Britain, while ongoing pressure on financial margins in Spain offset a solid performance in Brazil, its biggest market. The euro zone's biggest lender by market value booked one-off charges of around 1.5 billion euros (£1.3 billion) as a result of a review of the goodwill ascribed to Santander UK, with uncertainty around Brexit. On top of the goodwill impairment, Santander also set aside 103 million euros for payment protection insurance compensation in Britain.
The Spanish lender said late Tuesday the completion of a review of the goodwill ascribed to Santander UK, mostly a result of compulsory rules in Britain to separate retail banking from investment banking activities, had led to the one-off charge. The euro zone's biggest bank by market value said the impairment would be booked in the third quarter and that it was also a result of economic uncertainty caused by Britain's looming departure from the European Union. In its recently outlined strategy in April, Santander said it would focus on cost savings in Europe, where lenders are under pressure due to ultra low interest rates, while pursuing higher profitability in Latin America.
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Spanish lender Santander reported an 18% fall in quarterly net profit hurt by one-off restructuring costs from its acquisition of Banco Popular and a weak performance in Britain despite a solid performance in Latin America. It reported a net profit of 1.39 billion euros ($1.56 billion) for the three months to the end of June, topping the 1.29 billion euros expected by analysts in a Reuters poll. The euro zone's largest bank by market capitalisation, which took over Banco Popular two years ago, recently agreed with unions on the closure of around 1,150 branches and layoffs in Spain -- around a tenth of its Spanish workforce.
Powell said trade uncertainties and concerns about the global economy continue to weigh on the U.S. economic outlook and the U.S. central bank stands ready to "act as appropriate" to sustain a decade-long expansion. Markets jumped on the comments as sufficiently dovish pushing the S&P 500 above the 3,000 mark for the first time and sending most European indices into positive territory. The optimism was however, short-lived with all major indices slipping back into negative territory and the pan-European index STOXX 600 <.STOXX> closing 0.2% lower.