Sabadell share price and market performance during the quarter
Macroeconomic news and highlights related to Sabadell share price during the quarter
The third quarter of the year was marked by uncertainty in financial markets brought about by inflationary pressures on global economies. Fears that Germany would see its supply of Russian gas permanently cut off and worries over how that might impact economic activity in the European Union prompted central banks to take action in order to restore the stability of prices. The ECB raised its interest rate to 0.75% and left the door open to future hikes.
In Spain, activity benefited from the recovery of tourism. Spain’s government extended the measures designed to deal with the consequences of the conflict in Ukraine.
It is worth noting that in mid-July, the government of Spain announced a temporary bank levy. Pending legislative finalisation, at the time of the announcement it was said that the aforesaid levy would be charged at 4.8% of the core revenue (net interest income + fees and commissions) received on business in Spain by the main banks during the financial years 2022 and 2023. During the legislative process, the ECB is expected to issue a non-binding opinion regarding this levy.
Similarly, at the end of the quarter, the UK government unveiled a huge package of tax cuts that caused the pound to plunge and government bond yields to soar. This prompted the Bank of England to intervene and ultimately resulted in the replacement of the Finance Minister and the reversal of the aforesaid measures.
Against this backdrop, the Sabadell share was negatively impacted by the increased sensitivity of the Bank’s profit to variations in core revenue. Despite all this, year to date the share price has appreciated by +16%*.
*Not including dividend distribution
Sabadell share price and volumes
Information about month-end prices and average daily volume of securities traded
*Source: Bolsas y Mercados Españoles (Spanish stock market operator)
Share price performance
Graph showing share price performance of Sabadell and other Spanish banks listed on the stock exchange
*Source: Bloomberg. Data rebased to 100 at the start of the period, adjusted for capital increases, dividends, stock splits, etc.
Quarter-end technical data
Key indicators of the Sabadell share for this quarter
