Oops. Set up buy plan for BNC before going out. Forgot to set up sell plan for EZJ.... Double oops. Lesson learnt!
Hi and Good Morning, no corks yet but we seem to have support around early August price and next div, 7 weeks away. The fundamentals of the company are good but we have this thorn in our side with knee jerking EU politicians who fail to address certain member countries problems. Public sector verses private sector and the public sector seem to think their country owes them a living and earlier retirement plus higher pensions. The balance has to be addressed with the exception to Army, Navy, Air Force and all other sectors of common sense. In Spains favour bond yields are extremely low compared to past risk on ! Spanish QoQ GDP was in line with expectations today + 0.5% but inflation stats were lower. Spain is trying very hard under the present Gov and elections Dec 2015. BNC resistance 578p for 27th November and has support at 553p......gla
FT's Lex Column
Santander: inside job: Thin pickings for the headhunters here. Santander has replaced Chief Executive Javier Marín (after less than two years in the job and with little explanation) with Chief financial officer José Antonio Álvarez. This is how things are done at Santander. When Chairman Emilio Botín passed away in September the bank did not hesitate to name his daughter Ana (who ran the U.K. business) as his replacement. There was no need to scour the globe for candidates for the top two jobs at Santander. Other elements of Santander’s strategy also have to be refined. Under Mr Botín, Santander happily traded in and out of shares in subsidiaries. But that has left the bank with an uncertain acquisition strategy. Most recently it has been linked with Italy’s Monte dei Paschi di Siena – an awful idea (Santander has denied entertaining it). But after so long in the CFO’s chair, will Mr Álvarez be willing to change old habits? There are signs of progress, particularly when it comes to corporate governance. The board has previously been criticised for being too homogeneous, but big changes are under way. The appointment of independent Directors from the U.K. and Mexico, also announced on Tuesday, gives the board some diversity. Even the appointment of Mr Álvarez as CEO suggests a more even spread of experience (and perhaps power) between Chairman and Chief Executive than existed between Emilio Botín and the relatively youthful Mr Marín.
Did not see that one coming..,, you out drinking champagne?
Looking good and on target .... it looks like a big hill to climb but I can't ignore the sudden rise and can only see 5.71 as a historical platform, I hate the word boom and prefer BANCO!!!.... Sorry only kidding ...its not my style and I don't hype or ramp it's just that the Bank has had change of Heart and with Olympic stars giving some street cred it's now ready to take on the baton and make some money.
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