MADRID, June 5 - The following Spanish stocks may be affected by newspaper reports and other factors on Tuesday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy:
Banks in Spain are in need of about 40 billion euros ($50 billion) in additional capital, Emilio Botín, chairman of the nation’s biggest bank, Banco Santander, told Reuters on Monday.
Botin, whose family is also Santander’s largest shareholder, said that “there is no financial crisis in Spain,” adding that just a few banks are in need of financial support. Botín spoke in Brasilia during an official visit.
Banco Santander on Monday won the dismissal of U.S. federal securities law claims in a lawsuit by investors in a $3.1 billion hedge fund arm that funneled money to the now-imprisoned swindler Bernard Madoff.
U.S. District Judge Shira Scheindlin said investors in a feeder fund advised by the Spanish bank’s Optimal Investment Management Services SA unit could not rely on U.S. securities laws to recover losses on investments made outside the United States.
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