On July 30, Banco Santander SA rose 5.31% in regular trading, trading at $14.09/share, with turnover of $112 million.
On the news front, Brazil's mid-July inflation data came in below expectations, with the annual rate decelerating to 4.52% versus the 4.67% consensus and June's 4.8%, reinforcing market expectations for a 25-basis-point Selic rate cut next week — a positive for the banking sector. Santander's Brazil unit also released its earnings report on the same day, boosting market sentiment.
Additionally, the group's Q2 results exceeded expectations, with net profit reaching 3.518 billion euros versus the 3.33 billion euro consensus estimate. Revenue rose year-over-year to 15.71 billion euros, and underlying profit grew 17% year-over-year. Management reaffirmed mid-single-digit revenue growth guidance and confirmed approximately 9 billion euros of its buyback commitment has been executed.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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