The IBEX 35 fell 0.87% on Monday, led by major banks and stocks such as Telefónica, Repsol, Inditex and Iberdrola, on a day when it suffered the biggest drop of the rest of the European markets, with investors worried with the populist drift of Pedro Sánchez and the legal uncertainty that his decisions generate among investors to try to turn the electoral polls. In Europe, this 0.87% fall in the Spanish market is squarely up against Milan, which advanced by 0.11%, and the slight losses suffered by the rest of the stock markets: Paris, left 0.18%, Frankfurt , 0.03%; and London, 0.13%.
The main equity index, the IBEX 35, begins August with a drop of 71.1 points, or 0.87%, to close at 8,085.1 points, bringing losses since the beginning of the month. year at 7.21%.
With Asian markets positive (Tokyo, 0.65%; Hong Kong, 0.05%; Shanghai, 0.21%), the session started with gains despite the fact that the final data on manufacturing activity from S&P Global last month showed a contraction in Spain. and in the euro area.
However, after noon, the IBEX recorded losses.
In the euro zone, the manufacturing sector marked a low in more than 20 months (as a whole, the final data of the S&P Global PMI index contracted in July from 52.1 to 49.8 points) and the activity fell in major economies such as Germany, France, Italy and Spain.
This is the biggest drop in production since the lockdowns at the start of the pandemic in the spring of 2020, and is due to the impact of interest rate hikes to counter inflation.
In the United States, the final data for this same index also marked the minimum in two years, but it still does not show a contraction in activity.
The market drop in Spain comes after a few intense weeks in the markets due to the release of first-half results from major companies, both Spanish and foreign, which pushed the main stock indices higher.
In this Monday’s session, the declines of the main banks stand out (Santander, 1.93% and BBVA, 1.17%), along with others of other highly traded stocks such as Telefónica, 2.62% , Repsol, 2.27%; or Iberdrola, 0.1%.
Inditex, the company with the largest market capitalization, rose 0.76%, but saw a trading volume well below those mentioned above.
Solaria led the IBEX falls with a drop of 8.01%, followed by Grifols (5.34%), which continues to be penalized by investors after the results published last week
With only eight positive companies, Bankinter was the best, with an increase of 1.77%, ahead of the aforementioned Inditex and Amadeus (0.42%).
Shortly after the close, Brent oil, Europe’s benchmark, fell more than 9% and was trading below $100 a barrel for the first time in two weeks, and the euro was trading at $1,027.
Regarding debt, the interest rate on the ten-year bond fell by 5.7 basis points and closed at 1.849%, the lowest since the end of April, and the risk premium was reduced to 107 basis points. base.