Sabadell share price and market performance during the quarter
Macroeconomic news and highlights related to Sabadell share price during the quarter
During the first quarter of the year, the central banks maintained tight monetary policy and continued on the rate hikes pathway at their first meetings of the year, although some members raised the possibility of moderating the pace of rate increases as from March.
On the macroeconomic front, the beginning of the quarter was marked by lower-than-expected consumer price indices in the main European economies thanks to the containment of energy prices and, in particular, gas prices. Nevertheless, the growth rate of underlying inflation, which excludes energy prices, continued to accelerate in the main developed economies, which had a considerable bearing on the decisions taken by the aforementioned central banks.
In terms of economic activity, the European GDP growth forecasts for 2023 were revised upwards and the leading indicators and confidence indices were better than expected.
However, the month of March featured a surge in financial market volatility and, in particular, a sharp correction in the banking sector on both sides of the Atlantic. These episodes of volatility were mainly due to: (i) liquidity problems in Silicon Valley Bank in the US; (ii) the acquisition of Credit Suisse by UBS for 3 billion dollars while the institution’s AT1 bondholders saw the value of their investments fall to zero, prompting a mass sell-off of instruments of this kind in the secondary market; (iii) and trouble at Deutsche Bank, which became the subject of market scrutiny following a spike in the institution’s credit default swap (CDS) spreads, leading to a significant correction of its share price.
In this context and despite this turbulence, the Sabadell share price had appreciated by +12.26% at the end of the quarter, placing it above the average of Spanish banks and the European bank index.
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
