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BBVA: shares weaker in Madrid despite earnings beat.

(CercleFinance.com) - BBVA has earned close to 3.
5 billion euros in the first nine months of the year, up 23% year-on-year.

The Spanish bank this morning reported net attributable profit of 3.45 billion for the period January to September, nearly equal to its 2016 result.

The group said cost containment and a fall in impairment losses on financial assets were the main factors driving this performance.

Despite net profit exceeding market expectations, BBVA shares were down 1.4% at under 7.3 euros in Madrid this morning.

UBS analysts said uncertainties in some key geographies, such as Spain and Mexico, and the need to incorporate incremental FX headwinds might have tempered the market's reaction.

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