MADRID (Reuters) – The Spanish index opened on Tuesday with further cuts in line with other europas squares, by persisting concerns about European banks after stress test last week.
in Frankfurt, Deutsche Bank shares fell nearly 3 percent and Zurich, the Credit Suisse fell 4.75 percent even after the announcement that both values will be excluded next week’s pan-European Stoxx 50 index selective.
in Madrid, the decline of banks was led by Bankia, with a cut of 3.2 percent, followed by Santander and BBVA, with two separate drops of 2.8 percent.
at 0920 hours, the Ibex-35 was down 1.37 percent to 8,395.30 euros while the pan-European FTSEurofirst 300 index was left 0.8 percent.
also the fall in oil prices affected. Crude oil prices fell in the US yesterday to its lowest level since April before recovering timidly in Asia.
Repsol was down this morning another 1.08 percent and Tecnicas Reunidas 1.96 percent.
Telefónica, another heavyweight Ibex, was left 1.7 percent in early trading.
Outside the Ibex, OHL was down 3 percent despite announcing a program buyback after its recent weak track record bag ..
calse shares a and B of Abengoa and were down 4.5 and 7.9 percent respectively on news of the proximity of a key meeting this week with its bondholders and financial creditors
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