IBEX 35 index forms a risky pattern ahead of the Puig IPO
The IBEX 35 index plunged hard on Tuesday led by Spanish banks like BBVA, Santander, and Caixabank. It crashed by more than 2.2%, its worst daily performance since March last year. It has now dropped by over 3.35% from its highest level this year. Puig IPO aheadSpanish banks suffered a harsh reversal even after major developments in the country. BBVA, the second-biggest bank after Santander, approached Banco Sabadell for a deal that would create a financial behemoth. If the deal goes on, it will be the biggest European bank merger in years. The merger would also likely spur more consolidation ...