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The Ibex loses 8,700 weights at the bank and Evergrande fears bankruptcy

Ibex 35 markers on Madrid Stock Exchange.

Ibex 35 markers on Madrid Stock Exchange.
Vega Alonso del Val EFE

European stock markets closed with a sharp decline after the Hong Kong Stock Exchange reached a year-low low following the collapse of Chinese real estate giant Evergrande. Despite easing the fall in tourist value pressures, the Ibex has lost 1.20% to 8,655.40 points due to the bank’s penalty for fear that Evergrande will not face paying its multi – million dollar debt. .

The week began with strong cuts in European stock markets triggered by falls in Asia and, in particular, Hong Kong. the index Croch Seng lost 3.5%, down to almost a year low, weighed down by the fall of more than 10% of Chinese real estate Everlastingwhose price is eleven years low due to investor skepticism about its ability to deal with $ 300,000 million in debt and the fear of a capture effect.

Con $ 300 billion debtabout 254,000 million euros, Evergrande It is the most indebted real estate company on the planet.. The final extension is before the countdown to potential bankruptcy. Their financial difficulties are so urgent during the the next few days could confirm the non-payment of a coupon expiring on September 23, for an amount of 83.5 million dollars, about 70 million euros. Just a few days later, on September 29, he faces a payment of another $ 47.5 million, about € 40 million.

Fear of capture has led to a wave of sales in Europe, with Ibex sometimes losing 8,600 points. In the middle of the session the falls have eased and the Spanish option has finally eliminated the session by 8,655.40 points after giving up 1.20%.

The worst was taken today banks, which suffered a sharp correction in the session for fear that Evergrande will declare his debt unpaid. Sabadell It has 3.66% left, down from a buffer of over 0.60 euros per share, and CaixaBank has depreciated 4.10%. The barriers were greater Santander (-4.80%), who lost 3 euros per share, and BBVA (-7.09%), in the session in which the bank returned to the Euro Stoxx after a year outside the European index.

The selective has eased the falls in the middle of the session due to the pull in tourism values ​​at a time when the withdrawal of many restrictions imposed by the pandemic is being announced. United States of America allow vaccinated travelers to enter the EU from November onwards. IAG which excluded capital increase, is soaring 10.68%; Amadeuswho left the Euro Stoxx today, has rebounded 4.02%; aena The company has acquired 2.20% and the hotel company Meli, 1.19%. Positive values ​​also include ‘utility’ as Eags (+ 1,37%) y electrical network (+ 1.52%) and the highest value of the Spanish market by capitalization, ie Inditex (+ 0.19%).

In the rest of the European markets, the fall was higher than the Ibex fell in one day with a new composition in two of its most important indices, .i. the Euro Stoxx 50 and the German Dax. In the European index, as well as BBVA, the car group Stellaris. Where Dax, today the biggest change in its 33-year history has been made. the index gone from 30 to 40 value to incorporate values ​​as relevant Airbus, Puma y Porsche, among others. Overall, the German indicator has fallen 2.31%. French Shit has lost 1.74%, the Italian Mib fell 2.57% and the British Ftse fell 0.79%.

In the week that US Fed meets, investors will pay attention to any comment on potential stimulus withdrawals. It is hoped that its president, Jerome Powell, will not make too specific announcements and will not retain some flexibility, for fear of questioning economic growth. Investors with undecided positions in equities have found refuge in fixed income, above all, the safest, as German income. German indigenous rates rise above -0.30%, while US bond yields ease towards 1.30%. For the Spanish ten-year bond, the yield drops to 0.35%.

The price of oil comes to an end following its recent rises. Brent Barrel is trading at 74 dollars a barrel, while West Texas raw barrel, a reference in the United States, is exchanged for 70 dollars.

Equity investor risk avoidance is also translated into cryptocurrencies. The price of bitcoin, which recovered $ 50,000 last week, drops to $ 43,000. Gold, on the other hand, escapes the fall and more than 1,760 dollars per ounce, although still far from the usual 1,800 dollars in previous months.


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