0710 GMT - There aren't any significant sector-specific risks that would justify a strong correction for Spanish banks, Renta 4 says in a research note. Though, markets at record highs call for caution, it says. "We believe corrections, if any, would be more responsive to the market environment in a context of high uncertainty (trade war, impact of tariffs, armed conflicts, escalating geopolitical tensions)," analyst Nuria Alvarez writes. The domestic profile of the lenders provides them with support in this climate, she says. The sector's earnings have proven resilient despite interest-rate cuts, supporting capital distributions and a share rally since the start of the year. The next catalyst is the publication of second-quarter results, in which some could lift their guidance. Renta 4 lowers its rating on Santander and UniCaja to hold from overweight. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
June 20, 2025 03:10 ET (07:10 GMT)
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