Spanish Stock Market falls again amid pending Vaccines and Corporate results

Spanish Stock Market falls again amid pending Vaccines and Corporate results

Globe Live Media, Friday, January 29, 2021

The main Spanish selective opened with falls after the rebound of the day before, heading towards its third consecutive week down, attentive to the business results of the first hour of the morning with the uncertainty around the supply of vaccines in Europe and the impact of the advance of the pandemic on the economy.

The tug of war between the European Commission and AstraZeneca regarding the supply of vaccines against COVID-19 in Europe once again captured the attention of the markets and increased the nervousness of investors, while the latest economic data, such as the industrial production of Japan, which continued its decline in December, does not augur a promising economic outlook.

At the domestic level, the usual season of results gave the starting gun with the banking sector at both ends of the main Spanish selective. Caixabank scored 1.03% after increasing its net profit by 49% in the fourth quarter of the previous year, while BBVA fell 2.7%, despite reporting a net profit of 1,320 million euros (1,600 million euros). dollars) in the fourth quarter.

Thus, at 08:05 GMT on Friday, the selective Spanish stock market Ibex-35 fell 131.10 points, or 1.66%, to 7,801.00 points, while the index of large European securities FTSE Eurofirst 300 fell 1.44%.

If it closes at current numbers, the Ibex would drop almost 2.5% so far this week, its third consecutive decline.

In the rest of the banking sector, Santander lost 2.08%, Bankia rose 0.58%, Sabadell fell 1.50%, and Bankinter fell 1.43%.

Among the large non-financial securities, Telefónica recorded 0.61%, Inditex lost 2.11%, Iberdrola lost 1.40%, Cellnex fell 0.93% and the oil company Repsol lost 0.60% .

In the area of ​​renewables, Siemens Gamesa left 4.80% despite anticipating a strong inflow of orders for its offshore wind energy division in 2021 and reiterating its forecasts.

Ben Oakley
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