1129 GMT - Spanish banks' presence in Latin America is undervalued by investors, Citi analysts write in a note. Latin American economies are more resilient than investors give them credit for, they say. Banks' presence in the region gives them helpful diversification, with both BBVA and Santander's Mexican businesses are growing above market rates, they say. "The market underappreciates the earnings resilience provided by BBVA and Santander's diversified Latin America exposure," the analyst writes. The rise of the Mexican peso against the euro further underlines the importance of the market for Spanish banks, they say. BBVA and Santander shares both rise 1.8%.(josephmichael.stonor@wsj.com)

(END) Dow Jones Newswires

June 09, 2026 07:35 ET (11:35 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.