Ferrari stops cooperating with Banco Santander

Italian company Ferrari has lost one of the main sponsors - the Spanish bank Santander, which has been supporting the company over the past seven years. Santander has invested about 280 million euros in the sponsorship of the Italian Formula One racing team. The companies will cease their cooperation from January 2018. Representatives of the Spanish bank said that Santander will now focus on the new projects, and one of such is the sponsorship of the UEFA Champions League.

In the last few days, Ferrari stocks fell by 3.6%, while Santander stocks grew by 1.7% and will continue to grow. Trading in Banco Santander stocks will be available during the European session, from 07:15 to 15:30 GMT. Trading in Ferrari shares will be available during the American session, from 14:40 to 21:00 GMT.

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