July 23, 2008 / 9:14 AM / 12 years ago

HBOS shares jump on BBVA bid talk

Halifax signs are seen outside a branch of the bank, in central London on February 27, 2008. REUTERS/Stephen Hird

LONDON (Reuters) - HBOS HBOS.L shares rose more than 12 percent on Wednesday on market talk of bid interest from Spanish rival BBVA (BBVA.MC), traders said.

At 10:05 a.m., HBOS was up 12.5 percent, topping gainers on the FTSE .FTSE, which was up 1.9 percent. BBVA was up 3.4 percent and the DJ Stoxx European banking sector index .SX7P was up 4.7 percent.

Neither BBVA nor HBOS was immediately available for comment.

“All the banks are massively strong across Europe,” said one trader. “The sentiment is now that banks are starting to find a level (and) there was a rumour doing the rounds of BBVA for HBOS.”

(Additional reporting by Jane Barrett in Madrid and Clara Ferrera-Marques in London)

Reporting by Sitaraman Shankar and Michael Taylor

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