April 22, 2021

The Ibex puts 8,000 points at risk for fear of a hard Brexit


Madrid

Updated:

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The fear of a no-deal Brexit stains red the Spanish Stock Exchange. After several weeks of large increases due to the announcements of the coronavirus vaccine, the Ibex lose 2.23% after noon, putting the 8,000 points at risk. A level that has not fallen since last November 23. This week could be the worst since the last of October, while this year accumulates a decrease of 16.19%.

The market is especially pending Brexit, after concluding the meeting between the president of the European Commission, Ursula von der Leyen, and the British Prime Minister, Boris Johnson, without being able to unlock negotiations on the future framework of relations between the European Union and the United Kingdom, so they have been given until Sunday to decide whether the obstacles are insurmountable or not.

This fact has caused big drops in all European markets. Thus, in addition to the losses of the Ibex, the rest of the large European markets accumulate losses in the day today, Friday. Specifically, Paris lost 0.94%, Frankfurt 1.64%, Milan 1.11% and London 0.93%.

By values, the biggest fall in the Ibex is in Telefónica, which loses 8.78%, at the beginning of the capital increase to pay the “scrip dividend” and after the British competition authority assumes the file of the merger of its subsidiary O2 with Liberty Global. Also this Friday, the new Banco Santander shares issued to pay the 2019 complementary dividend in shares began to be listed.

Behind, stood out the decreases of IAG (-4.93%), BBVA (-4.43%), Santander (-4.42%), Sabadell (3.93%), Acciona (-3.85%) , Bankia (3.08%) and Caixabank (2.95%).

After the ECB’s measures and after the Public Treasury arrived on Thursday to charge negative interest for the first time to place the debt with this maturity, the profitability of the Spanish bond with a ten-year maturity reached to fall this Friday in the secondary market to 0%. In the mid-session, it stood at 0.005%, while the risk premium lost positions to 62 basis points and the price of the euro against the dollar stood at 1.2124 greenbacks.

A barrel of West Texas Intermediate (WTI) oil, the benchmark for the United States, traded at 46.63, while Brent crude, the benchmark for Europe, marked a price of $ 50.06.

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