The banking panic continues, leaves the European stock markets in the red and leads the Ibex to its worst week in more than a year

After the mirage and the false hopes of Thursday, the urgent ECB meeting and the rescue of Credit Suisse They presaged a better day within the world banking system, but the forecasts have not been fulfilled. Finally, the waters have returned to the course of the beginning of the week and the stock markets have once again suffered a day of losses, among which the collapse of the First Republic Bank or the loss of the Spanish Ibex 35 stand out.

Despite the 30,000 million ‘rescue’ that was supposed to boost First Republic Bank, this he has hit a good bump after losing 31.5% of its value. This context leaves the American country in an even more delicate situation, ‘threatened’ also by Bidenthat Congress has requested a tightening of the rules for those who incur in bad management.

Regarding the European stock markets, these have not fared well either. The ECB meeting has not provided any ‘green shoot’, and the general trend is one of notable losses, worsening the situation after the ECB decided to increase rates on Thursday. Among these red numbers, Spain stands out negatively, which has registered a decrease in the value of the Ibex 35 of 1.92%thus closing the second consecutive week in the red, and the worst since the war in Ukraine began.

With the data for this Friday in hand, the Madrid Stock Exchange has accumulated total losses of 170.9 points (1.92%), which leaves a value of 8,719.3 points. Despite the rise registered during the morning, the ‘final whistle’ at 5:00 p.m. has resulted in new losses in their values.

As a consequence of these numbers, some companies have ended the week in Red numbers. The companies that have recorded the most losses are Banco Santander (-4.65%), Meliá (-4.45%), Aena (-4.08%), BBVA (-3.49%), Cellnex (-3, 45%) and Sabadell (-3.14%).

For their part, the rest of the banking systems have fared no better, as most have also closed in negative. Despite the injection of 50,000 million euros, the Swiss bank Credit Suisse has again ended the day with losses of 8%, which shows that uncertainty continues among investors.

In Europe, the rest of the stock markets have also suffered. The one in Milan closed the day with losses (-1.64%), like Paris (-1.43%), Frankfurt (-1.33%) or London (-1.01%).

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Deborah Acker

I write epic fantasy; self-published via KDP. Devoted dog mom to my 10 yr old GSD, Shadow! DM not a priority; slow response at best #amwriting #author.

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