SAN soaring in premarket with +5%. Probably because of Spanish banking merger announcements.
Banks leading the charge. Spain’s Caixabank and Bankia announced Thursday that they have entered merger talks to create Spain’s largest bank. Caixabank shares jumped more than 14% in early trade, while compatriot lender Banco de Sabadell surged more than 12%. Spain’s Bankinter added 6% and Germany’s Commerzbank jumped 9%.