Banks

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China capital curbs reflect buyer’s remorse over market reforms

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Capital Markets

Mnuchin expected to be Trump’s Treasury secretary

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Banks

Financial system more vulnerable after Trump victory, says BoE

The US election outcome has “reinforced existing vulnerabilities” in the financial system, the Bank of England has warned, adding that the outlook for financial stability in the UK remains challenging. The BoE said on Wednesday that vulnerabilities that were already considered “elevated” have worsened since its last report on financial stability in July, in the […]

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Currencies

China stock market unfazed by falling renminbi

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Categorized | Equities

Sabadell shares slide after major shareholder sells stake


Posted on November 22, 2016

Shares in Banco de Sabadell are falling on an otherwise upbeat day for European bank stocks, after one of the Spanish bank’s largest individual shareholders sold the majority of his stake.

Shares in Sabadell are down 4.2 per cent at publication time, to €1.21, after Colombian billionaire Jaime Gilinski sold a 2.99 per cent stake in the bank at a discount to yesterday’s closing price.

Mr Gilinski, Colombia’s second richest man, now owns only 2.04 per cent of Sabadell shares, having previously been its biggest single shareholder with as much as 7.5 per cent.

In the rest of the continent, in contrast, financial stocks are sharing in the generally positive mood as record highs in Wall Street boost confidence. Despite the drag from Sabadell, the eurozone-wide Euro Stoxx Banks Index is up 1.3 per cent.