Santander, Faes Farma, Espirito Santo: Iberian Equity Preview

The following companies may have unusual price changes in Spanish and Portuguese trading. Stock symbols are in parentheses and share prices are from the previous close.

Spain’s IBEX 35 Index (IBEX) dropped 0.2 percent to 10,735. Portugal’s PSI-20 Index (PSI20) fell 0.2 percent to 7,817.27.

Spanish stocks:

Banco Santander SA (SAN) : Spain’s biggest lender purchased 96 percent of Poland’s Bank Zachodni WBK SA for 3.99 billion euros ($5.62 billion) from Allied Irish Banks Plc. Santander will also buy 50 percent of BZ WBK Asset Management from Allied Irish for 150 million euros in cash, the Madrid- based lender said in a statement. Santander shares slipped 1.3 percent to 8.45 euros.

Faes Farma SA (FAE) : The Spanish drugmaker will start selling its allergy treatment Bilastina in Spanish pharmacies in the first week of April. The treatment will be marketed under the brand Bilaxten, the company said in a regulatory filing. The shares fell 0.2 percent to 2.80 euros.

Portuguese stocks:

Banco Espirito Santo SA (BES) : Portugal’s biggest publicly traded bank by market value said in a presentation it sold 1.3 billion euros ($1.8 billion) of loans during the first quarter. The shares dropped 2.3 percent to 3.02 euros.

To contact the reporter on this story: Manuel Baigorri in Madrid at mbaigorri@bloomberg.net.

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.