Ever since Banco Santander was named Euromoney’s bank of the year for 2012, I have been keeping a wary eye on the Spanish lender, which is also Europe’s largest bank. The share price bottomed at approximately €4 around the time of the award. This was the same level reached in March 2009. Since last July, Santander shares rose, phoenix-like, to nearly €6.50 in late January 2013, before falling back a bit. Interestingly, the chart of Santander’s stock price is similar to that of the overall Spanish market (the IBEX 35) which is probably not surprising.
Abigail Hofman,
February 28, 2013