Despite data showing Spain’s economy exited the recession in the third quarter shares of foreign bank stocks fell Wednesday after the European Central Bank outlined tougher stress tests for euro zone banks. The ECB has stated it would being a thorough review of 128 financial institutions’ balance sheets and will ask them to set aside 8% of their risk-adjusted capital. "We expect that this assessment will strengthen private sector confidence in the soundness of euro area banks and in the quality of their balance sheets," ECB President Mario Draghi said.
Banco Bilbao Vizcaya Argentaria SA (NYSE: BBVA) shares traded in the range of $12.12 to $12.46 Wednesday before settling to close at $12.20, a decrease of 4.01 percent. The stock appears to be facing some resistance at the $12.26 and $12.45 levels with some support at $11.91. Shares of Banco Bilbao have gained approximately 30.0 percent in 2013.
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Bank of Ireland (NYSE: IRE) shares traded in the range of $14.35 to $14.59 Wednesday before settling to close at $14.48, a decrease of 1.63 percent. The stock appears to have some support at the $14.20, $13.57 and $13.04 levels. Shares of the Bank of Ireland have gained approximately 120.0 percent in 2013.
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National Bank of Greece (NYSE: NBG) shares traded in the range of $5.79 to $6.15 Wednesday before settling to close at $5.82, a decrease of 8.33 percent. The stock appears to have some support at the $4.51 level. Shares of the National Bank of Greece have fallen approximately 67.0 percent in 2013.
More information on National Bank of Greece and access to the free equity report can be found at:
Banco Santander, S.A. (NYSE: SAN) shares traded in the range of $8.93 to $9.07 Wednesday before settling to close at $8.98, a decrease of 3.18 percent. The stock appears to be facing some resistance at the $9.18 and $9.37 levels with some support at $8.91. Shares of Banco Santander have gained approximately 10.0 percent in 2013.
More information on Banco Santander and access to the free equity report can be found at:
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