Shareholders, trading and share price
Throughout the first half of 2013, global economic growth has remained unchanged. Worth noting has been a certain slowdown in emerging markets and modest growth in some of the most advanced economies, as well as tightening financial credit terms globally, mainly as a result of the Federal Reserve's plans to start putting and end to its tapering process in the United States.
Global financial markets have been extremely volatile during the period. The general European Stoxx 50 index registered a 3.5% quarterly decline at the close of June. The Ibex 35 and Euro Stoxx Banks indices posted slightly lower declines (2.0% and 1.0%, respectively). In the first half of the year, the Ibex 35 and Euro Stoxx Banks indexes were down 5.0% and 9.8%, respectively, compared to a 1.0% increase of the Stoxx 50.
The BBVA share closed the second quarter of 2013 with a 4.7% decline at a price per share of €6.45, equivalent to a market capitalization of €36,893m. This represents a price/book value ratio of 0.8, a P/E ratio of 9.5 (calculated on the average profit for 2013 estimated by the consensus of Bloomberg analysts) and a dividend yield of 6.5% (also obtained according to the average dividend per share forecast by analysts compared with the share price at June 28).
