New share buyback 'doing the talking', BBVA shares rise
BBVA•Spanish peers and market reaction
** Spanish peers Caixabank CABK.MC, Sabadell SABE.MC, Bankinter BKT.MC and Santander SAN.MC edge up 0.6%-1.8%
** BBVA shares among top gainers of Madrid's IBEX35 .IBEX index, which rises 0.9%
($1 = 0.8744 euros)
Broker views on the results and buyback
** JPM says it considers BBVA's results "good enough" with Q2 net profit 4% above consensus, largely on lower impairments, and core results beat expectations by 2%
** The broker adds that the new buyback is "doing the talking" having come earlier than expected
** Jefferies also points to the improvement of BBVA's 2026 RoTE target to 21% on stronger Mexican outlook and considers the new €2 billion buyback announced a positive surprise
BBVA shares rise after profit beat and new buyback
** Shares of BBVA BBVA.MC rise 2.3% after it surprised positively with a new buyback following a Q2 net profit beat
** The Spanish lender books Q2 net profit of €3.06 billion ($3.50 billion), above the €2.96 billion expected by analysts polled by Reuters
** BBVA also announces a new €2 billion share buyback
