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Banking, finance, and taxes

PIIGS Banks Get Reprieve From Spain (STD, BBVA, NBG, AIB, IRE)

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By Jon C. Ogg Updated Published

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Yesterday was Portugal helping out, today is Spain… Debt sales that is.  A debt sale in Spain is so far being hailed as a minor success and this comes on the heels of a similar successful debt private placement yesterday from the smaller and more troubled Portugal.  With two PIIGS getting out of the bacon factory for another day, the rest of the PIIGS are getting some reprieve.

Spanish banks are higher.  Banco Santander, S.A. (NYSE: STD) is up 3.8% at $11.30 and Banco Bilbao Vizcaya Argentaria SA (NYSE: BBVA) is up almost 7% at $11.02 in pre-market trading.

National Bank of Greece SA (NYSE: NBG) is trading up 2.3% at $1.73 in the pre-market.

In the land of leprechauns and four-leaf clovers, Allied Irish Banks plc (NYSE: AIB) is up 1.1% at $0.88 and The Bank of Ireland (NYSE: IRE) is higher by about 2% at $2.62 in the pre-market.

JON C. OGG

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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