What just happened, in one line and with a link to the source.
The six largest banks on the IBEX 35 lost €26.723 billion in market capitalization in the week they reported record results, according to merca2.es. BBVA and Santander bore the brunt of the selloff. Within the IBEX, only Unicaja escaped the trend described by the outlet.
Read the flashmerca2.esTwelve IBEX 35 stocks closed October with gains of up to 15.5%, even as the index posted a 3.98% correction for the month. Cellnex, Grifols and Indra lead the gains among the stocks that withstood the decline, according to Merca2.
Read the flashmerca2.esBarron's says Alphabet, Google's parent company, trades at an unusual discount and argues that if the stock returned to its historical valuation relative to Apple it would have nearly 50% upside. The outlet advises keeping calm and buying the dip.
Read the flashBarron'sThe board of Colombia's Banco de la República surprised the market by keeping interest rates unchanged. It also authorized the purchase of US$2 billion from the Government, an amount additional to its international reserves accumulation program.
Read the flashLa RepúblicaGian Piero Celia, president of Banco Serfinanza, said the bank already records 15% of credit card applications through WhatsApp. According to the executive, the messaging app will work as a virtual branch and the bank plans to launch a superapp this year.
Read the flashLa RepúblicaDaniel Toledo, manager of Fantastic Night, said the company's sales have been affected by nearly 50% because of foreign platforms. For this season, the company expects to sell between 130,000 and 140,000 garments, with no growth compared to last year.
Read the flashLa RepúblicaDespegar will use booking advances to finance hotel operations. Renan Pinto, the company's CFO, said the goal is to reach between US$30 million and US$50 million in disbursements in the region by March of next year.
Read the flashLa RepúblicaCoca-Cola Femsa expanded its plant in Barranquilla, which was inaugurated on October 30. With the expansion, the company will concentrate more than 20% of its national production at that facility, reinforcing the role of the capital of Atlántico in the industry.
Read the flashPortafolioColombia's national government announced that gasoline and diesel (ACPM) prices remain stable. For November, the average gasoline price stood at COP 15,886 and diesel at COP 11,320, according to the published information.
Read the flashLa RepúblicaThe De la Espriella government will not renew the Fomag trust contract with Fiduprevisora, the entity that had operated that mandate for 36 years. According to the report, there will be a transition period for Fomag during which the aim will be to guarantee the continuity of health services and the payment of benefits to teachers.
Read the flashValora AnalitikClaro invested COP 19 billion in a 410-kilometer network through the jungle reaching Puerto Carreño. The project links the capital of Vichada with La Primavera and continues to Bogotá via fiber optics.
Read the flashPortafolioColombia's National Government announced an investment of COP 100 billion for complementary works at Bocas de Ceniza, in Barranquilla. According to estimates presented by those responsible for the project, these works could generate more than 1,500 jobs.
Read the flashValora AnalitikFlorida is testing electric flying taxis over Tampa Bay as part of the advance of air mobility. The state has already established a legal framework to recognize these vehicles as means of transportation.
Read the flashPortafolioThe Euro Stoxx Banks index, which groups European banks, would be finding support for the seventh time at its 50-week moving average, according to the technical analysis published after the close of October. The text notes that the month left two clear losers and that the banking sector is among the hardest hit, though the author warns it is too early to call the correction over.
Read the flashexpansion.comColombia's stock exchange posted a 20% gain between January and September, making it the second-best performing market in the region, according to Valora Analitik. The three best-performing shares of the year are ETB, Ecopetrol and Grupo Sura's preferred stock.
Read the flashValora AnalitikPrevisora Seguros appointed Angelamaría Sánchez Acosta as its new president. The company is an insurer linked to the Ministry of Finance and Public Credit, in which the Nation holds a majority stake.
Read the flashValora AnalitikClaro deployed its own backbone transmission network in the Vichada region, the company reported. The telecommunications engineering rollout included an investment of 19 billion pesos.
Read the flashLa RepúblicaMaría Fernanda Suárez takes over the presidency of Banco de Bogotá, becoming the first woman to hold the position in the institution's 156-year history. The executive arrives after leading Banco Popular for three years.
Read the flashPortafolioThe proposal known as De la Espriella's Rescue Law includes higher taxes for brokers and effects on investments such as CDTs and other products, according to Valora Analitik. Among the initiatives touching investments is also the possibility that the DIAN, departments and municipalities carry out securitizations.
Read the flashValora AnalitikAnthropic's stock market debut faces its first market test without having set the share price yet. Blackstone, one of its major partners, expects the company to list on the Nasdaq with a BB rating, within speculative grade, which would make its financing more expensive and strain the debut.
Read the flashmerca2.esNutresa, the Colombian company linked to businessman Gilinski, closed the acquisition of La Universal in Ecuador. With the deal, the company adds its own industrial and commercial base in Ecuadorian territory and expands its chocolate business.
Read the flashPortafolioMaría Fernanda Suárez Londoño will take over the presidency of Banco de Bogotá following Echeverry's departure. Suárez had been serving as president of Banco Popular and will step in as the outgoing executive's replacement, according to La República.
Read the flashLa RepúblicaMaría Fernanda Suárez takes over the presidency of Banco de Bogotá, replacing Juan Carlos Echeverry. Her previous roles include the presidency of Accenture Colombia and the Ministry of Mines.
Read the flashValora AnalitikCandidate De la Espriella proposes eliminating income tax exemptions for magistrates, judges and university professors. With those benefits removed, this income would be subject to the general income computation rules.
Read the flashValora Analitik
