Daily Archives: May 18, 2012
Bankia shares experienced a very strong rebound of 31.50% over two hours after the start of the session, breaking a run of ten consecutive sessions of cuts that had come to losing half its market capitalization.
A few minutes after the start of the day Bankia shares rose 9%, and 10.35 hours were changed to 1.87 euros, 31.50% more than the 1.42 that marked the close of the session precedent.
The surge enabled the institution to reduce its losses from earlier years at 48.75%, although since its IPO in July last year, has lost half its market capitalization.
Experts indicate that the rebound is a rebound after sharp falls of recent days, but also point to the calls for calm made yesterday, Thursday, several members of the Government and the entity itself.
The fear of a massive withdrawal of funds meant that in some moments of yesterday’s session, the titles receded by 28%, although it moderated its collapse at the end and closed with a drop of 14.08%, to 1.42 euros per share.
Bankia President Jose Ignacio Goirigolzarri, acknowledged yesterday that the current situation is “extremely troubled” but said, the activity of the group is being these days “basically normal”.
“The evolution of deposits in the first fortnight of May” has substantially seasonal in nature, Bankia explained in a statement after meeting in recent days have gone over 1,000 million.