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ING - BBVA's Execution Still Overshadowed By Macro Worries And Rate Pressure
ING Group N.V.
I wasn’t particularly keen on BBVA (BBVA) shares back in December, due to a combination of both macro challenges in markets like Mexico, Spain, Turkey, and the U.S., as well as some internal execution/value-creation issues. Since then, the shares have kept pace with other European banks, but are still down slightly.
BBVA shares do appear to offer some value here, but lower rates in Europe and the U.S. aren’t going to do the bank any favors, and there are likewise worries about an upcoming lowering cycle in Mexico. Moreover, not unlike ING