Exane BNP Paribas downgrades BBVA


Exane BNP Paribas downgrades BBVA

Wed, 15 February 2012
Banco Bilbao Vizcaya Argentaria Quote more

Price: 9.39

Chg: 0.07

Chg %: 0.70%


IBEX 35 Quote

Price: 10,500.20 Chg: -56.20 Chg %: -0.53% Date: 16:40

Analysts at Exane BNP Paribas have downgraded their recommendation for BBVA to underweight from overweight.

The analysts also lowered Bankia's price target from €3.30 to €2.

Digital Look has given its own views on both Spanish stocks and sees a bullish outlook for BBVA, but a bearish outlook for Bankia:


We have seen a substantial improvement in BBVA's stock performance after breaking out of resistance at €7. That resistance level also coincided with the 200-day moving average and thus it is likely that we will see a change of trend.

For the short-term, we expect some price consolidation although the excellent accumulation levels lead us to believe that the gains will continue towarsd at least €8.


The stock chart for Bankia reveals a very bearish technical outlook as the stock fell below the support level at €3.50. That support level was the bottom part of a trading range in which it has been trading for several months. We now expect a return to the November low of €3.12."

"We do not expect any bullish signals as long as it trades below €3.63.

BBVA was up 0.36% to €7.15 while Bankia showed a 1.01% loss to €3.41 this morning.


FTSE 100 Top Risers

Name Last Chg.% Time
Royal Mail 449.80 2.16 17:05
Hargreaves Lansdown 1,154.00 1.85 17:00
Vodafone Group 205.85 1.60 17:05
Lloyds Banking Group 76.25 1.34 17:00
London Stock Exchange Group 2,029.00 1.20 17:00

FTSE 100 Top Fallers

Name Last Chg.% Time
Fresnillo 921.50 -1.76 17:05
CRH 1,377.00 -1.57 16:54
SSE 1,497.00 -1.51 16:42
Rolls-Royce Holdings 1,022.00 -1.45 17:00
BHP Billiton 1,944.00 -1.37 17:13