The Ibex-35 falls amid more energy cuts and recession fears

The Ibex-35 falls amid more energy cuts and recession fears

The Ibex-35 closed lower on Monday on fears of a weakening global economy and threats of recession, as most major central banks seem willing to continue raising interest rates.

In Europe, a further disruption to energy supplies raised concerns about the continent’s economic outlook following warning signs from European Central Bank monetary policy makers.

“We continue in a scenario of high inflation without seeing the peak in the coming months and, despite the moderation seen in the United States (pending confirmation of this relaxation trend), in Europe the additional risks due to the gas crisis make difficult to find a roof,” said the Renta 4 brokerage house in a note.

In its fourth consecutive session down, the selective Spanish stock market Ibex-35 closed with a fall of 53.30 points on Monday, 0.64%, to 8,284.80 points, while the index of large European securities FTSE Eurofirst 300 lost 0.86%.

In the banking sector, Santander fell 1.38%, BBVA fell 3.07%, Caixabank lost 1.47%, Sabadell fell 0.80%, and Bankinter fell 1.87%.

Among the large non-financial stocks, Telefónica advanced 1.36%, Inditex lost 2.54%, Iberdrola appreciated 0.37%, Cellnex gained 0.24% and the oil company Repsol rose 1.03%.

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