BBVA will return to the Euro Stoxx 50 index as of September 20, when the changes to the index announced yesterday by the company Stoxx, which belongs to Deutsche Boerse and which also manages other benchmark stock indices in Europe, such as the Stoxx index, will come into effect. 600. The bank will replace the French Engie.
The entity chaired by Carlos Torres returns to the Euro Stoxx 50 a year after being excluded. The collapse of its price due to the pandemic left it out of the September 2020 review, as happened with Telefónica. A year later, the momentum of its listing allows it to rejoin and join the small group of Spanish firms that are among the fifty companies with the largest capitalization in the euro zone, along with Inditex, Iberdrola and Santander.
Cellnex, with a capitalization slightly higher than that of BBVA, has been left at the gates after its recent correction on the Stock Market. And Telefónica, with a stock market capitalization that does not reach 24,000 million, still has not recovered enough to rejoin the Euro Stoxx 50.
The revision of the index supposes the entry of BBVA and the exit of Amadeus, which has remained as the value with the least capitalization of the selective. The harsh stock market punishment suffered by tourism, which has not finished going back on the stock market due to the appearance of new variants of the coronavirus, has caused its exclusion. Amadeus shares show a fall so far this year of 10.6%, which leaves its capitalization on the edge of 24,000 million euros.
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Replacing Amadeus, the Italian Stellantis joins the Euro Stoxx 50. 2002. Its market capitalization stands at 52,730 million euros
BBVA has managed to more than recover pre-pandemic levels on the Stock Market. Its market capitalization is 37,500 million euros, after registering a rise so far this year of 41.3% and 164% from the lows of 2020, marked precisely in September with its exit from the Euro Stoxx 50. The shares of the entity have benefited from the inflow of money that began to reach cyclical values in November with the discovery of the coronavirus vaccine and the imposition that later led to the expectation of a return to the payment of the dividend, which the ECB confirmed in July.
In favor of BBVA it has also played its comfortable capital position. The entity gave up the attempt to merge with Sabadell last year and retains the surplus capital that the sale of its business in the US has provided. The expectation of higher shareholder remuneration is a catalyst for value. For the moment, the bank has communicated its intention to resume this year a pay-out of between 35% and 40% and to carry out a share repurchase program, which will begin in November, estimated at more than 3,000 million.