The IBEX sinks 3.6% and falls back to 2020 levels

The worsening of hostilities in Ukraine, where Russia has attacked Europe’s largest nuclear power plant, has caused another fall of 3.63% in the Spanish Stock Marketwhich closes a lousy week with three falls that exceed the level of 3% that leave the parquet in levels not seen since November 2020.

The main indicator of the market, the IBEX 35, has fallen 290.5 points3.63%, up to 7,720.9 pointswhich raises the losses so far this year to 11.39% and this week at 9.02%.

The market has started operations this Friday with the news that Russia has attacked the nuclear plant in Zaporozhye and, after an hour of slight losses, it has panicked with falls of more than 2% that have been accentuated by the downward opening of Wall Street, despite the good employment data in the US.

The great values ​​are done with heavy losses in a session in which Banco Sabadell has registered the biggest drop, 9.03%, and only four companies have made profits.

The greatest decreases were presented by Sabadell (-9.03%), Amadeus (-8.61%), Arcelormittal (-8.08%), Meliá (-8%), PharmaMar (-7.51%), Indra (-7.31%) and Acerinox (-7.12%).

On the contrary, only Cellnex (+3.95%), Solaria (+1.62%), Red Eléctrica (+1.11%) and Naturgy (+0.09%) have managed to finish the session ‘in green’ .

Analysts point to investors’ fear of the economic consequences of the Russian invasion of Ukraine, such as stagflation, a situation of economic recession with a high inflation due to the increase in raw materials such as Petroleumthe gasthe wheat or the corn.

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European stock markets lose more than 4% and oil shoots up 3%

The rest of the European stock markets have registered falls of 3.2% in the session this Friday Londonfrom 4.97% in Parisof 4.41% in frankfurt and 6.24% in Milan.

The Paris Stock Exchange has suffered this Friday a harsh corrective and the CAC 40 has plummeted 4.97% in a black day for international markets due to the worsening of the war in Ukraine.

In a session that began with the worst omens due to the Russian attack on the Ukrainian nuclear power plant in Zaporizhia, the main index of the Parisian market has ended the session in 6,061.66 points.

The CAC 40 has lost 9.10% this week, the first complete since the beginning of the Russian invasion, and 14.19% since the beginning of the year.

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The price of brent oilof reference in Europe, has been located in the $113.89 per barrela 3.09% more compared to the close of this Thursday, while the West Texas has traded at 111.20 dollars, 3.3% more.

Lastly, the euro price has been located in the $1.0918while the Spanish risk premium stood at 99 basis points, with the interest required on the ten-year bond at 0.952%.

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George Holan

George Holan is chief editor at Plainsmen Post and has articles published in many notable publications in the last decade.

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