PIIGS Banks Get Reprieve From Spain (STD, BBVA, NBG, AIB, IRE)

Yesterday was Portugal helping out, today is Spain… Debt sales that is.  A debt sale in Spain is so far being hailed as a minor success and this comes on the heels of a similar successful debt private placement yesterday from the smaller and more troubled Portugal.  With two PIIGS getting out of the bacon factory for another day, the rest of the PIIGS are getting some reprieve.

Spanish banks are higher.  Banco Santander, S.A. (NYSE: STD) is up 3.8% at $11.30 and Banco Bilbao Vizcaya Argentaria SA (NYSE: BBVA) is up almost 7% at $11.02 in pre-market trading.

National Bank of Greece SA (NYSE: NBG) is trading up 2.3% at $1.73 in the pre-market.

In the land of leprechauns and four-leaf clovers, Allied Irish Banks plc (NYSE: AIB) is up 1.1% at $0.88 and The Bank of Ireland (NYSE: IRE) is higher by about 2% at $2.62 in the pre-market.

JON C. OGG