Bank shares fall on the Spanish Stock Market Wednesday

Bank shares fall on the Spanish Stock Market Wednesday
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By h.b. - Nov 19, 2008 - 9:41 PM

Santander logo - Archive Photo EFE

The falls were led by the Banco Santander which lost 9.9 percent.

The Spanish stock market IBEX 35 index fell 3.7% on Wednesday, pulled south by a 9.9% fall in the share price of Banco Santander. The Ibex closed close to 8,200 points.

It was the eighth consecutive fall for the bank whose shares are now worth 5.42 €, 35% less than on October 10 when the falls started after it announced a surprise capital increase of 7.2 billion €.

Other banks also headed down on Wednesday, Banesto down 6.56%, BBVA down 5.45%, Banco Popular down 3.97%, Bankinter down 3.52% and Banco Sabadell down 2.65%.

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