Expansion / The minitregua in oil gives Repsol air, but now accuses the Ibex leave doubts the results of BBVA.
The Spanish stock market faces another difficult day. The truce in the last two weeks of January has been diluted since the beginning of February. Sales accelerated in yesterday’s session, when the Dow lost 2.96%. The setback was extended to the whole of European equities. Looking ahead to today’s session, falls to predict future jeopardize the level of 8,500 points. To all external references must be added the political developments that threw up yesterday. Pedro Sanchez today has about a month to negotiate the formation of a new government. For now, the interest of the Spanish ten-year bond is about 1.6%, and the risk premium is anchored close to 130 basis points.
Without losing sight of the evolution of Spanish debt, the Ibex season resumes business results presentation, with the help of Natural Gas and, above all, BBVA. The bank announced a profit in 2015 of 2.642 million, 0.9% higher, above forecasts. Their actions, deflated by 3.5% yesterday, start below the 5.6 euros. Its evolution will serve as reference for the rest of the sector, a day after a fateful day living, with close to 6% fall in CaixaBank and Popular, and 5% in Santander, slowed to 3.6 euros. In the case of Bankia, the Societe Generale analysts have cut their price target to 0.98 euros per share. Attention, once again it moves to the energy sector. Repsol yesterday after losing more than 9 euros per share, has to cope with further declines in oil prices. Gas Natural shares awaiting the results near the 18 euros.
European shares fail to curb the downward spiral yesterday. Since then, Wall Street brushed drops 2%, and in Asia the Nikkei has plummeted 3.15%. In China, however, the Shanghai Composite Index has managed to contain the decreases to 0.4%. The future of European equities anticipated percentage point near the falls. Oil, mining and steel are back in the spotlight of investors. The earnings season gives prominence to companies such as KPN and Swatch. The Dutch telecom has made a lower profit than expected, lie the Swiss watchmaker has accused the ‘currency effect’ in reducing 21% of their profits. Corporate bulbs currently concentrated again in Syngenta. After months of speculation, the Chinese ChemChina has agreed to pay 43,000 million to gain control of the Swiss company. Syngenta shares soar and around 20% in future.
Beyond the macro data, results and corporate activity, investors in equities are forced to follow closely the evolution of the oil market. The last two days again triggered a downward spiral in oil prices that has erased the effects of the recovery that was recorded in late January. Today oil declines appeased, and barrel West Texas, US benchmark, strives to cut their falls after losing the barrier of 30 dollars. A barrel of Brent, meanwhile, resists even close to $ 33.
The crossing of the euro / dollar has, once again, more stability. The single currency remains at $ 1.09, while waiting for data such as retail sales in the eurozone
SPAIN. The Ibex breathing but accuses Repsol doubts BBVA
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