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- Despite the Euphoria One Must Remain Cautious
French bank BNP Paribas has reduced its holding in Spanish peer BBVA to 2.71 percent from 3.33 percent, according to a filing with the securities watchdog.
The French bank's stake in BBVA was worth 1.1 billion euros($1.48 billion) following the cut in its shares.
Shares in BBVA closed down 2.68 percent at 10.89 euros onthe Madrid bourse.
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