the Expansion / In Spain, his favorite is Santander and has a buy recommendation also for Bankia and Popular.
The investment firm believes that it is time to take positions on the Stock exchange in the financial sector and justifies his bet for several reasons. Explains that the regulation is demanding, but “it seems to us unlikely that the current requirements are tough”. He trusted that the demand for credit go giving signs of improvement, and remember that the volume of credit investment (stock) accumulates nineteen months in positive.
on the other hand, says that “economic activity gains traction”, what makes you be optimistic with the financial institutions. It also believed that the recent evolution of the interest rate curve anticipates a better performance of the game industry’s revenue in the medium term. And finally, he believes that the recovery of the capital markets (activity and price) leads to an improvement of the fees for management of assets.
investment Opportunities In this context sees good opportunities within the european banking. Among his favorite highlights Santander. “The diversification of income and the recovery of the brazilian real play in favor of the entity of face-to-improving results during the coming quarters,” he says.
In Spain, also maintained a buy recommendation on Bankia and Popular. Of the latter he adds that the recommendation is tactical, “because the risk is high and cannot be ruled out that the entity decides to carry out a capital increase to accelerate the consolidation of the balance”.
on the other hand, the broker maintains its advice from neutral in Sabadell and CaixaBank until the publication of its results, who will know the day 27 January and 2 February, respectively.
The stake in Bankinter for the financial sector comes at a sweet moment for the banking sector in the Stock market. Yesterday, the banking of the Ibex rose by 3.97% on average, and today also stresses positive, with increases of on average 1%.
In Europe, bet on ABN Amro as a strategic bet, raised its recommendation from neutral to buy at Deutsche Bank and also trust in the good running of BNP Paribas and Société Générale. In Italy, it has revised its recommendation upwards on Intesa to buy from sell, because it is of the opinion that the company has one of the best capital ratios in the European Union and its npl is lower than that recorded by their comparable Italian.
SPAIN: it Is time to bet on the banker, according to Bankinter
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