The descents are imposed one more day on the European stock exchanges. And with increasing force. The Ibex 35 it is heading decisively towards its fifth consecutive session in the red with losses reaching 2.8% that place the Spanish index below 8,300 points. A level that places the Spanish index at lows of the last four months.
The tourism sector firms throughout Europe contribute to this decline once again, while the numbers of infections in Asia continue to grow and seriously compromise the global economic recovery. IAG suffers losses of 5.5% and Amadeus it leaves about 5%. More than 3% lose Meliá Hotels, and that the United Kingdom has lifted travel restrictions that it kept in force towards Spain in relation to Covid-19.
The bassist group is strongly joined by values such as Siemens Gamesa Y ArcelorMittal, which fell by more than 4%. In addition, several financial entities add to the burden for the Spanish index, with falls of three points for Sabadell Bank, Santander Y BBVA, among others.
The energetic Repsol it also contributes to setback. The company’s shares are left about 3% in a punishment session for oil as a result of the agreement between Saudi Arabia and the United Arab Emirates to expand oil production despite still weak demand.
It only escapes the red, and by a few tenths, the pharmacist PharmaMar, which sees its advances reduced by 1% of the opening.
The European stock markets continue in block, as the decreases are generalized throughout the region, the in the wake of widespread declines in Asian markets, with corrections of 1.5% on the Tokyo Stock Exchange or 2.1% on the Hong Kong Stock Exchange.
Fears of a much weaker than expected recovery continue to weigh on the market due to the impact of the new variants of the coronavirus. Especially the certainty that summer will be far from assuming the recovery of activity expected for the service sector.
Regarding the financial agenda of the session, a transition day to start the week without major references. The Bundesbank monthly report German and the publication of results from large companies such as IBM are the most prominent references.