July 25, 2021

The Ibex opens with losses of 1.18%, pending Italy

The Ibex opens with losses of 1.18%, pending Italy

The Ibex falls 1.18% minutes after the opening and puts at risk the 9,300 points, dragged by the bank, one of the sectors most exposed to Italy, to which Europe has issued a warning for raising its public deficit target, thus bypassing community norms.

At 9.15 am, the main national indicator, the IBEX 35, leaves 71.90 points, that 0.75%, to 9,335.70 points, with which the annual losses rise to 7.05%.

The Spanish stock market has started the day with a negative tone affected by the tensions that have re-emerged in the market after the warnings sent yesterday by Europe to Italy, which last week challenged the Union with budgets that raise the public deficit of 2019. The president of the European Commission, Jean-Claude Juncker, said that giving Italy special treatment would be the end of the euro.

The ministers of Economy and Finance of the Eurozone gathered yesterday, also showed their concern for Italy, and urged him to present credible accounts and in line with the community norms of control of deficit and debt.

The uncertainty generated by Italy in the market again leads investors to be cautious, and to invest in safe securities such as the German bond.

This translates into sales in the Italian public debt, and an increase in interest on its 10-year bond, which at the opening reached 3.36%, with which its risk premium has shot up to around 300 basic points (294).

The Milan Stock Exchange opened with a sharp fall of 1.5%.

In the rest of Europe, where the euro falls to 1.1544 dollars, Paris yields 0.68%; while Frankfurt falls 0.82%; and London, 0.55%.

In addition to Italy, the market will be awaiting other issues such as the new rebound to 2014 highs, the price of Brent crude, which already exceeds 85 dollars, and the "brexit".

At the macroeconomic level, it has been known that unemployment in Spain rose by 20,441 people in September, while Social Security added 22,899 employed.

Eurostat will publish today the prices of industrial production in the European Union in August, and the OECD, the monthly figures of inflation.

Back to the Spanish Stock Exchange, banks are the most penalized values ​​in the opening.

Santander leads the falls of the IBEX 35 by yielding 1.67%; followed by BBVA, which does 1.60%; Sabadell, 1.46%; Bankia, 1.43%; CaixaBank, 1.32%, and Bankinter, 0.64%. Of the large securities, in addition to the losses of Santander and BBVA, Telefónica also falls 1%; Inditex, 0.87% and Iberdrola, 0.50%.

Repsol, on the other hand, is the highest value of the IBEX 35, and 0.38% is revalued, encouraged by the new oil price highs.

In the continuous market, highlights the decline of Adolfo Domínguez, of 4.63%, and the rise of Reig Jofre, of 7.03%. EFE


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