Does Banco Bilbao (BBVA) have what it takes to be a top stock pick for momentum investors? Let's find out.
When a stock experiences a golden cross technical event, good things could be on the horizon. How should investors react?
Higher loan-loss provisions at Spain's BBVA and a rise in costs in some emerging markets overshadowed higher than expected third-quarter earnings, sending its shares lower on Friday. Higher lending income and profits in Mexico, its main market, helped the country's second-biggest lender by market value to post a 31% rise in quarterly net profit to 1.84 billion euros ($1.83 billion), above the 1.55 billion forecasts by analysts in a Reuters poll. Loan-loss provisions rose 51% year-on-year to 940 million euros, at a time when lenders are globally setting aside more cash against a potential deterioration of the macroeconomic environment.