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4-Traders Homepage  >  Equities  >  Bolsa de Madrid  >  Bankia SA       ES0113307021

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European shares claw back gains after worst week in six months

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05/19/2017 | 06:31pm CEST
Traders work in front of the German share price index, DAX board, at the stock exchange in Frankfurt

MILAN/LONDON (Reuters) - European shares staged a modest recovery on Friday after suffering heavy losses this week prompted by political turmoil in the United States that fuelled worries over President Donald Trump's stimulus plans and dented appetite for riskier assets.

The pan-European STOXX 600 index rose 0.6 percent, not enough to turn it around from its worst week in six months. Britain's FTSE <.FTSE> and euro zone blue chips <.STOXX50E> also gained 0.4 and 0.7 percent respectively.

While gains were spread across all sectors, financials - among the most hit by this week's sell-off - gave the biggest boost to the STOXX with heavyweight banks BNP Paribas (>> BNP Paribas) and UniCredit (>> UniCredit SpA) up 2 percent.

Spain's Banco Popular (>> Banco Popular Espanol SA) jumped 10 percent after sources said Santander or Bankia were likely to acquire the bank, which is struggling to clean up soured property assets.

The bank propelled Spain's IBEX <.IBEX> up 1.4 percent.

Among the biggest movers was airport retailer Dufry (>> Dufry AG), up 5 percent after luxury group Richemont (>> Compagnie Financiere Richemont SA) bought a 5 percent stake in the company.

German utility RWE (>> RWE AG) jumped 5.4 percent after sources said it was considering merging with France's Engie (>> Engie S.A.). The firms are considering a share swap to create Europe's first truly cross-border utility.

Engie shares were up 0.6 percent, while RWE's majority-owned Innogy (>> Innogy SE) gained 3.4 percent on the news.

South African retail group Steinhoff (>> Steinhoff International Holdings NV) jumped 7.2 percent as investors gave a warm reception to plans to spin off its African retail business.


This week's losses have pulled the STOXX down from 21-month highs hit after a run driven by big inflows into Europe, solid economic data and surprisingly strong corporate earnings.

With 80 percent of European companies having reported so far, 65 percent of them have beaten expectations and 8 percent have met them, according to I/B/E/S data.

After the latest company updates, however, first-quarter earnings growth is seen at 19.4 percent, slightly below the over 20 percent previously forecast.

Easing fears about the euro zone's stability after the defeat of a eurosceptic candidate in the French presidential vote this month added fuel to the recent rally.

Flows data from Bank of America Merrill-Lynch showed investors remained strongly bullish on Europe, with the region's equity funds drawing inflows for the eighth straight week, while investors rushed out of U.S. stocks.

On the same front, some investors welcomed developments in Greece, where lawmakers approved further austerity measures overnight, making more progress towards unlocking bailout funds.

"No doubt averting another Greek crisis or at least another stand-off between the Greek government and its creditors should help stocks," London Markets trader Markus Huber said.

Athens stocks <.ATG> were up 0.2 percent.

Elsewhere, companies with exposure to Brazil such as Casino (>> Casino Guichard), Telefonica (>> Telefonica SA) and Telecom Italia (>> Telecom Italia SpA) steadied following losses in the previous session triggered after a bribery scandal hit the country's president, darkening the outlook for structural reforms there.

(Reporting by Danilo Masoni and Helen Reid; Editing by Gareth Jones)

By Danilo Masoni and Helen Reid

Stocks mentioned in the article
ChangeLast1st jan.
BANCO POPULAR ESPANOL 0.00%-End-of-day quote.0.00%
BANCO SANTANDER 1.19% 4.734 End-of-day quote.-13.60%
BNP PARIBAS 1.35% 53.92 Real-time Quote.-13.38%
CASINO GUICHARD-PERRACHON 1.97% 33.7 Real-time Quote.-33.35%
COMPAGNIE FINANCIÈRE RICHEMONT 1.25% 87.24 Delayed Quote.-1.20%
DUFRY 1.15% 136.3 Delayed Quote.-5.94%
ENGIE 0.65% 13.235 Real-time Quote.-7.67%
HIKMA PHARMACEUTICALS 3.92% 1430 Delayed Quote.26.10%
IBEX 35 0.93% 9792.1 End-of-day quote.-2.51%
INNOGY SE -0.08% 36.72 Delayed Quote.12.38%
ROCHE HOLDING LTD. 2.02% 219.85 Delayed Quote.-10.81%
RWE -0.26% 19.31 Delayed Quote.13.59%
STEINHOFF INTERNATIONAL HOLDINGS 2.04% 0.08 Delayed Quote.-74.76%
STOXX EUROPE 600 1.09% 385.01 Delayed Quote.-1.07%
TELECOM ITALIA 0.36% 0.6684 End-of-day quote.-7.23%
TELEFONICA 0.89% 7.456 End-of-day quote.-8.23%
UNICREDIT SPA 1.07% 14.538 End-of-day quote.-6.67%
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Financials (€)
Sales 2018 3 377 M
EBIT 2018 1 400 M
Net income 2018 808 M
Debt 2018 -
Yield 2018 3,93%
P/E ratio 2018 13,13
P/E ratio 2019 11,08
Capi. / Sales 2018 3,06x
Capi. / Sales 2019 2,98x
Capitalization 10 335 M
Technical analysis trends BANKIA SA
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 25
Average target price 3,99 €
Spread / Average Target 19%
EPS Revisions
José Sevilla Álvarez Chief Executive Officer & Executive Director
José Ignacio Goirigolzarri Tellaeche Executive Chairman
Antonio Ortega Parra Executive Director, GM-People & Resources
Jorge Cosmen Menéndez-Castañedo Independent Non-Executive Director
Joaquín Ayuso García Lead Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
BANK OF AMERICA-1.80%293 940
WELLS FARGO-11.09%262 843