IBEX34?... Life without Bankia

FXstreet.com (Barcelona) - The beleaguered bank is in the verge of being permanently excluded from the Spanish blue-chips’ benchmark, as a Technical Committee of the IBEX35 will meet today in order to examine whether to allow the financial giant to be part of the IBEX again. It should be noted that Bankia (ticker BKIA) has been momentarily delisted since January 2nd due to its ongoing recapitalization plans.

The outlook does not look good for Bankia, as prior surveys are not optimistic in this regard, considering that the bank does not meet the necessary requirements to be part of the top listed companies in the Spanish bourse. According to IG Index Strategist Soledad Pellón, “not enough liquidity and scarce trading volume are playing against the bank”, foreseeing at the same time a grim future for the ex-blue chip, at least in the near term. Her outlook is in line with many other analysts’, accentuating its bearish perspective.