The selective Spanish suffered a session of more to less, penalized once again by the decision of the Supreme Court on who must pay the mortgage taxes. Although last Friday the decision was postponed until November 5, today it has been confirmed that the ruling is "firm and not subject to review", which has led to a new collapse in banks with greater exposure to the Spanish market.
Although most of the business results that have been published to date have exceeded expectations, they have not been able to recover the optimism of investors. The trade war between the US and China, the deviation over the deficit in Italy's budgets and the proximity of the Senate elections in the US continue to weigh heavily on the markets. The ECB meeting that will take place this week, and in which no changes in monetary policy are expected, is taking a back seat.
Banking again ballasted the Ibex 35, and there are already four banks, Sabadell, BBVA, Bankia and Santander that exceed 25% of losses so far this year. Dia returned to star in another collapse after presenting a lower reformulation of its results for 2017. The supermarket chain already falls more than 80% so far this year.