Car finance penetration rates in Spain have risen by 2.2% YoY and are impacting Santander Car Finance’s revenue positively, a factor traders are integrating into valuation multiples this quarter. It comes as questions remain over the future of the UK business, despite efforts by Spanish owner Banco Santander to quash rumours the lender is considering pulling out of the UK. Get set for the working day – we'll point you to all the business news and analysis you need every morning In technical market analysis, recent price action for Santander’s financial services stock has formed a bullish pennant pattern, with auto lending figures suggesting a breakout toward €3.85 if volumes continue upward.
