Europe open: Catalan lenders find a bid as they mull move out of Barcelona
CaixaBank SA
€4.82
18:15 18/04/24
European stocks are taking a breather following timid gains overnight on Wall Street and ahead of Friday's all important monthly US jobs report, although the data from the States is likely to be heavily distorted because of the impact of recent hurricanes.
Banco de Sabadell
€1.50
18:15 18/04/24
Banks
3,854.55
13:30 19/04/24
IBEX 35
10,716.30
18:45 18/04/24
IBEX TOP DIVIDENDO
3,029.30
18:45 18/04/24
TSB Banking Group
339.00p
16:34 27/07/15
Against that backdrop, at 1100 BST the benchmark Stoxx 600 was 0.28% or 1.09 points lower to 389.31, alongside a dip of 0.25% or 32.82 points for the German Dax which was trading at 12,937.59.
Meanwhile, in Spain the Ibex 35 was bouncing back by 0.81% to 10,055.60 amid reports that the two largest Catalan lenders might redomicile outside of the region.
On the economic front, political uncertainty in Catalonia continued to be very much on traders' minds.
Overnight, the regional president, Carles Puigdemont, reiterated a call for "mediation" between his government and authorities in Madrid.
In reply, Spain's finance minister, Luis de Guindos, on Thursday told Bloomberg that independence was out of the question and that there is nothing to discuss until the rule of law is reestablished.
On Tuesday, Puigdemont had told the BBC he would make a unilateral declaration of independence "at the end of this week or the beginning of next".
Elsewhere, Greek unemployment declined from 21.3% in June to 21.0% for July, according to ELSTAT, with the minutes of the European Central Bank's last policy meeting set for release at 1230 BST.
Later in the day, the focus would shift to figures on US durable goods orders and international trade for the month of July.
Three Fed speakers were also set to take to the podium: San Francisco Fed chief John Williams at 1415 BST, Philly Fed boss Patrick Harker at 1500 BST and the president of the Federal Reserve bank of Kansas City at 2130 BST.
Meanwhile, in the corporate space, Spain's Banco Sabadell, which owned TSB, was expected to decide on whether to move its domicile to Alicante or Madrid on Thursday evening.
Caixabank, perhaps the most iconic Catalan lender, was reportedly also mulling a similar move should the Catalan government decide to embark on a unilateral declaration of independence.
Elsewhere, Spain’s Gas Natural had decided upon a sale of its Italian retail unit to EDF subsidiary Edison and its distribution network to 2i Rete Gas, Reuters reported.