April 20, 2021

The Ibex 35 falls 15% in 2018, its worst year since 2010

The Ibex 35 falls 15% in 2018, its worst year since 2010


The main indicator of Bag Spanish, the IBEX 35, closed the year with losses of 14.97%, its worst annual record since 2010 – when it lost 17.43% -, due to doubts about the future of the global economy, the effects of the "brexit" and the fear of commercial war between the US and China.

These and other reasons have sown volatility in the Spanish equity market in a year in which the IBEX has left more than 1,500 points, going from the 10,043 with which it began January to the 8,539.90 with which it closed today.

The expected Christmas "rally" of December has replaced it the worst monthly index of the index since June 2016, after the referendum on the "brexit"; if it then lost 9.34%, this month of December losses are around 15%.

Since the beginning of the year, the IBEX accused forecasts of a tightening of monetary policy on both sides of the Atlantic: in January it lost 4.06% and, in February, the rise in interest rates in the US, 5.85%, was confirmed.

In March the discount was somewhat lower, of 2.44%, because of the evidence that that country was willing to wage a trade war with China.

The opposite happened in April, which ended with a rebound of 3.96%, helped by the depreciation of the euro against the dollar, largely due to the comments of the European Central Bank (ECB) on the slowdown in economic activity in Europe and the maintenance of monetary stimuli.

The roller coaster continued in may, when the IBEX fell 5.16% in its second worst monthly record of the year, affected by the difficulties to form Government in Italy and the impact of that situation in the debt market and in banks.

June ended with a 1.66% rise in the indicator, due in large part to the good performance of the energy sector, the same trend as in July, when the IBEX recovered 2.58% and approached 9,900 points thanks to the good business results, which offset the commercial and geopolitical uncertainties that were experienced in those days.

In August, the IBEX erased those two months of profits and lost 4.78% due to fears that the crisis of the Turkish lira would spread to other Latin American currencies and to the concern about the impact on the world economy of the commercial war unleashed by the US. .

The last minute doubts about the commitment of budgetary stability of the Italian Government made the IBEX fall 0.11% in September, and were transformed the following month into a fall of 5.28% for several reasons, such as the uncertainty about the evolution of the world economy, the final resolution of the "brexit" and the expectation of new increases in interest rates in the US.

In November, the IBEX achieved a rebound of 2.07%, overcome the doubts about the tax on mortgages and with a little less pessimism on issues such as the final content of the "Brexit" agreement or the commercial war.

The rest of the great European places also ended the year with double-digit falls, which were 18.26% in Frankfurt; of 16.15% in Milan; 12.48% in London, and 10.95% in Paris.

Of the 35 IBEX companies, only a dozen closed the year with a positive sign, and of these, six were from the energy sector, which are moving towards the decarbonization of their business and are more respectful towards the environment.

Endesa recovered 20.92%%; Naturgy, 20.58%; Iberdrola, 14.17%; Acciona, a 13.19; Red Eléctrica, 9.64%; Enagas, 5.01%, and Repsol, 1.11%.

In addition to the energy companies, ACS, Cellnex and Amadeus also rose, 13.19%, 5.35% and 2.99%, respectively; Ence, who joined the IBEX on December 24, is also among the listed that end the year with benefits, 4.06%.

On the contrary, the companies that fell the most in annual calculation were Mediaset (36.82%) and Sabadell (36.50%), after the parasocial agreement signed more than ten years ago with several investors to limit the transmission of their shares disappeared. To thirds.

After them are Bankia, which has yielded 33.82%, ArcelorMittal, with a fall of 32.90%, and BBVA, with a 31.99% decrease, a bad colophon for the year of the withdrawal of Francisco González to make way for Carlos Torres Vila.

Outside the IBEX, the biggest setback of all the Bag Spanish has been for Nyesa, which has yielded 90.19%, and for the supermarket chain DIA, which has left 88.47%.

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