Equities

The global economy is in the mature phase of the cycle, with an outlook for growth below potential in most countries. However, the rise in stock exchanges in 2020 should be largely due to valuation and, to a lesser extent, profit. "For the first time in recent years we see more potential in the European stock exchanges than in the S&P 500," said Joaquín García Huerga, head of Global Strategy at BBVA Asset Management, during the presentation of "Market Vision 2020."

Market analysts have given a positive rating to BBVA’s results, presented on February 1. Their reports primarily focus on the strength of revenues and the positive performance of banking activity in Spain and the U.S.

Francisco González purchased one million shares of the bank after his departure as the Group's executive chairman.

On Tuesday, BBVA entered the markets with a €1.5 billion issue of Senior Non-Preferred Debt (SNP) with a five-year term and a Floating Rate Note format. Thanks to strong investor demand, the issue closed with a coupon of three-month Euribor plus 52 basis points. The operation was the lowest-priced issue of senior non-preferred debt by a Spanish issuer.

Positive market conditions and investor appetite have helped BBVA to get an excellent reception for its sixth issue of CoCos. The Group has issued a $1 billion bond, with the lowest coupon in dollars for an issuer from southern Europe (6.125%), and the longest maturity (perpetual, with a ‘call’ option starting in the tenth year). Registration of a prospectus with the U.S. Securities and Exchange Commission (SEC) has prompted a bigger participation from American, European and Asian investors.

BBVA’s Board of Directors resolved today to approve the payment of an interim dividend for 2017, for a gross amount of €0.09 per share, to be paid on October 10.

BBVA Trader is an easy-to-manage and accessible market monitoring platform for users with a trader and heavy-trader profile. Its Trader Pro version goes one step further. In line with its principle of immediacy and ease of use, this version of the tool is more customizable and offers more possibilities for operating in the markets.

BBVA is the first dealer to give its institutional clients an automated way to build bespoke structured products and then calculate a tradeable price in real-time through a new Bloomberg function called the Derivatives Library, or {DLIB<GO>}.

It is common knowledge that markets dislike uncertainty. Investor doubts tend to translate into massive sales and sharp drops in capital markets, but presenting a believable message that gives an outlook of growth, or at least stability, can lead to significant gains.

Three Oxford University professors researched the impact of Chief Executive Officers (CEOs) presenting a new strategy on companies’ stock market value. They concluded that most of these statements had a significant impact on stock prices. The effect is even greater for recently appointed CEOs, and even more so if the new CEOs come from outside firms.

Market analysts have offered a very positive view about BBVA 2015 results released yesterday.Overall, analysts believe it is a good set of results which confirm BBVA’s  resilience. BBVA’s performance was significantly better than expected, in particular Mexico figures.