May 13, 2021

The Ibex 35 falls 4.47% at the open



The Ibex 35 woke up this Monday with a fall of 4.72%, standing at 6,316.7 points in the first minutes of the trading session, in an environment that is still marked by the coronavirus crisis, which has led to the decree of alarm state in Spain this weekend.

The greatest falls were presented by Cellnex (-9.11%), Aena (-8.46%), CIE Automotive (-7.37%), Inditex (-6.95%), Sabadell (-6.8%), Arcelormittal (-6.73%), Bankinter (-6.56%), ACS (- 5.97%) and Bankia (-5.95%). The Ibex 35 thus stood out from its European peers, who woke up positive. The London stock exchange rose 2.46% at the opening, the Paris one 1.83%, the Frankfurt one 0.77% and the Milan one 7.12%. The price of a barrel of Brent quality oil, benchmark for Europe, stood at $ 32.06, while the West Texas Intermediate (WTI), benchmark in the United States, stood at $ 30.61. The Spanish risk premium rose to 129 basis points, with the interest demanded on the ten-year bond at 0.726%, while the price of the euro against the dollar stood at 1.1185 ‘green notes’.

This Sunday, the Federal Open Market Committee (FOMC) of the United States Federal Reserve (Fed) met in an extraordinary way and decided to lower interest rates to zero, despite the fact that less than two years ago weeks ago he decided to cut the price of money by 50 basis points. In this way, the target range of interest rates has been between 0% and 0.25%, 100 points less, which effectively means that the rates have been reduced to zero. The Fed had not placed rates at this level since the 2008 global crisis, when it kept them at zero for seven years, until December 2015.

In Spain, the Council of Ministers approved an extraordinary royal decree on Saturday to declare a state of alarm before Covid-19. In this scenario, the only value that started the day in ‘green’ was Acerinox (+ 0.02%), although minutes later it returned to negative territory and left 2.38%. IAG, which reported on Monday that it is taking measures to reduce operating expenses and improve cash flow in the face of the coronavirus situation, including temporarily suspending work contracts and reducing working hours and implementing vacation options. unpaid volunteers, did not set a price.

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