On July 30, Banco Santander SA rose 3.21% in pre-market trading, trading at $13.82/share, with turnover of $441,600. The move was driven by cooling Brazilian inflation data and positive sentiment ahead of the bank's Brazil unit earnings release.
Brazil's mid-July inflation came in below expectations, with the annual rate decelerating to 4.52% versus the anticipated 4.67% and June's 4.8%, reinforcing market expectations for a 25-basis-point Selic rate cut next week — a development broadly supportive of the banking sector. Santander's Brazil division was scheduled to report results the same day, adding to positive market sentiment.
Additionally, the group's Q2 results reported on July 22 showed strong performance, with net profit of 3.518 billion euros beating the 3.33 billion euro consensus estimate. Revenue rose year-over-year to 15.71 billion euros, surpassing the 15.66 billion euro forecast. Management reaffirmed mid-single-digit revenue growth guidance and noted approximately 9 billion euros of its buyback commitment has been fulfilled against its 2025-to-current target of at least 10 billion euros.
(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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