Europe’s Largest Bank Stock Suspended, Admits Need For $8.9 Billion Capital Raise

Thursday, January 8, 2015
By Paul Martin

by Tyler Durden
ZeroHedge.com
01/08/2015

All is clearly not well below the surface. Europe’s largest bank (by market value) has admitted in a regulatory filing that it needs to raise capital. As WSJ reports, Banco Santander SA said it would raise up to €7.5 billion ($8.88 billion) in a capital hike, a bid to address long-running concerns among investors and analysts that its financial cushion was weaker than peers. European banking stocks are up over 2% today as Italian banks surge limit up (BMPS +13%) on speculation that they will be purchased by Santander (who ‘pumpers’ believe are raising this capital to go on a spending spree) and ‘old’ Draghi headlines.

The Rest…HERE

Leave a Reply

Join the revolution in 2018. Revolution Radio is 100% volunteer ran. Any contributions are greatly appreciated. God bless!

Follow us on Twitter