European Stocks to Buy: Banco Santander (SAN)
While the trading mood in Europe might be a little rocky, Spain’s premier banking institution, Banco Santander (SAN) is rock steady. The Best Stocks for 2014 entrant just reported big profits in Q4, with a big improvement on in its distressed loans segment. For 2013, SAN saw a 90% jump in net profit, with a big decline in loan loss provisions, the lowest in nearly two years.
Much has been made of the recent fiscal flux in Spain, but the Spanish economy did manage to grow 0.3% during the fourth quarter, and that is a very positive sign that the troubled nation is back from the recession that slammed her in recent years. More importantly, SAN stock also is back, and despite the latest pullback on regional woes, SAN stock has performed mightily, rising more than 20% during the past six months.
Smart investors who take a trip to Spain via SAN stock today will, I suspect, be all smiles by summer vacation.