The Ibex starts the week with declines driven by raw materials – Investing.com Spain

MADRID (Reuters) – The Spanish stock market began on Monday the week with declines, dragged down by weak commodity and oil prices on a day of few references with British markets closed for a holiday.

Values ​​related to raw materials such as Arcelor Mittal (MC or Acerinox (MC were some of the hardest hit, with declines of between 1.1 and 3 percent, respectively, while others linked to as oil Repsol (MC were left 0.7 percent.

After the Fed president Janet Yellen said on Friday that the arguments for a rise in interest rates have been gaining strength the market will be watching this week’s employment data in the United States.

in Spain, attention will be focused on the investiture session at which Mariano Rajoy on Wednesday and Friday will be submitted after PP and Citizens ratify Sunday an expected agreement investiture, to end eight months of caretaker government and two elections.

But the deal could be worthless if the other opposition parties comply with what they have said so far and voted against the investiture.

“we continue to believe that this effect (in Spanish politics) is going somewhat unnoticed by the market, but a third elections could impact on the market itself negatively, “they said analysts at Renta 4 (MC:).

the Spanish risk premium, expressed as the difference between profitability versus the German benchmark, it stood at 100 basis points.

at 09.12 hours, the Ibex-35 traded down 0.16 percent to 8,645.5 points, while the pan-European fell 0.12 percent.

on the opposite side, the median was the only bank that resisted in green with gains of 1.2 percent ( Bankia (MC :)) of 0.2 percent (Sabadell (MC :)), with the exception of Merlin (+0.6 percent) after regulatory approval of its merger with Metrovacesa.

as for the two gandes banking stocks, Santander (MC was down 0.2 percent and BBVA (MC traded flat.

Disclaimer: Fusion Media would like to remind you That the data Contained in this website is not Necessarily Real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices May not be accurate and May Differ from the actual market price, meaning prices are indicative and not Appropriate for trading purposes. Fusion Media doesn`t bear THEREFORE any Responsibility for any trading losses you incur as a result Might of using esta data.

Fusion Media or anyone Involved With Fusion Media will not accept any liability for loss or as a result of damage reliance on the information Including data, quotes, charts and buy / sell signals Contained Within this website. Please be fully Informed Regarding the Risks Associated With costs and trading the financial markets, it is one of the riskiest investment forms possible.