Friday, 26 October 2007

BCP up 7,21%

In a positive day in the stock exchanges world wide, Euronext Lisbon main index, PSI 20, climbed a bit more due to the business of the year that is (again) in perspective: the fusion between BPI and BCP. Both together represent the third biggest bank in terms os stock market capitalization in the Iberian Peninsula.
BPI stocks had a modest behaviour today, and ended in a slight fall of 0,15%. BCP's quote, on the other side rocketed more than 7% boosting the index.
Another bank that has been brought to the ring is BES, a bank that is threatened by this fusion, becoming immediately too little to keep on playing in the big league, I guess.
Several explanations have been discusses today for the BPI invitation and it's timing. It seams quite reliable the information that signals that several non-portuguese banks were on the verge to try to buy BCP. BPI played ahead and will try to keep the lead. More news, more buzz, more readers, more business, that's the immediate consequence of this proposed deal.
A final not to Semapa’s trading day: it was the biggest loser of the session: 2,44%.

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