The Ibex-35 fell by 4.44 percent, its biggest drop since August – Investing.com Spain

MADRID (Reuters) – The Spanish stock market closed on Monday with the biggest drop since last August to levels not seen since July 2013, weighed down by the banking sector and following so steeper the downward movement of the other European markets.

“We are facing a capitulation. A day sharp falls in European banks have burdened the Ibex by the uncertainty of the situation of banks in Italy that leaves this scenario totally negative,” Ivan said San Felix, an analyst at Renta 4 (MC :).

Up to seven values ​​of the dominant banking sector closed with losses of more than 5 percent. Banco Popular (MC was the hardest hit value, leaving 7.3 percent, followed by Bankia (MC :), which lost 6.4 percent, and Sabadell (MC :), down 6.3 percent.

In the same line losses the two banks with the largest weight of Spanish floors, Santander (MC and BBVA (MC :), which lost 6.2 and 5.6 percent were placed respectively.

In this context, the Ibex-35 sank 4.44 percent to 8,122.4 points, while the pan-European index dropped 3.38 percent.

in the collapse of the Spanish stock market also influenced the sentiment data from the eurozone, which deteriorated more than expected in February on concerns about the global economy prompted investors to lower expectations to the lowest level since November 2014 , the survey Sentix.

the price of oil, which traded at $ 33.51 a barrel, could not stop the fall of the oil company Repsol (MC :), which left nearly 6 percent, and that in the last six months has fallen by 41 percent.

The international airline IAG (MC also dependent, was the second hardest hit value, with a drop of 7.2 percent.

Among other securities at a loss of around 7 percent Arcelor Mittal (MC :), whose market capitalization has plummeted almost 60 percent in the past six months were; Gamesa (MC :), even though its shares soared last week after confirming that negotiates a merger with the wind business Siemens (DE :); and Amadeus (MC :), which Citigroup (N will cut its rating to “sell” with a price target 33 euros.

The textile giant Inditex (MC and Telefonica (MC accumulated milder fall of around 3 percent.

In the bond market, the risk premium rose sharply to 154 basis points at the market close, at maximum levels since last June.

(Reporting by Ana Vicario, Edited by Andres Gonzalez and Rodrigo de Miguel)

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