BUZZ-Shares of Spain's Banco Popular leads losers on the Ibex

jueves 23 de junio de 2016 11:45 CEST

** Spain's Banco Popular is the biggest loser on Ibex-35 index after more than 2 billion shares started trading on the market as part of its 2.5-billion-euro cash call.

** "It's a massive amount of new shares coming to the market because it's almost doubling its shares in issue and the market has to digest it. Shareholders who took part in the capital raise are now just taking profits", said Natalia Aguirre, head of analysis at Madrid-based brokerage Renta 4.

** At 0941 GMT, Banco Popular is down 1.7 percent to 1.368 euros vs Ibex up around 1.6 percent.

** Shares in the bank have fallen 34 percent since it announced a 2.5 billion euros rights issue, though in the last six trading days, shares had recovered around 7 percent.

** Thursday was the first day of trading of new shares issued at 1.25 euros.

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