The Ibex continues with the bearish correction in the opening – Investing.com Spain

MADRID (Reuters) – opened with new cuts Thursday, in line with other european places, when added to the weakness of the banking the decline in the values pharmaceutical in Europe after the warnings of the incoming president of the united States, Donald Trump, on the prices of medicines in their country.

The operator said that after the initial euphoria before the electoral victory of Trump that took Wall Street to new record highs and european stock markets to their highest levels in a year has been imposed, now a greater degree of caution in the markets.

At 09:15 pm, the IBEX-35 index fell 0.6 percent to 9.3515 points clearing the way for the fourth consecutive decline, while the pan-european FTSE Eurofirst yield a 0.55 percent.

The decline in the Ftse was led by Mediaset Spain (MC:) with a cut of 2.3 per cent and by Grifols (MC:), which increased on Thursday its exposure to the health market in us with the purchase of the company’s plasma-Access Biologicals.

In banking, BBVA (MC:) was leading the cuts with a drop of 1,45 percent to continue the achievements of the benefit after its recent revaluation on the stock exchange (a 28.7 per cent in the last six months compared to an increase of 15 per cent on the Ibex-35). Investors feared that Mexico, where BBVA generates half of its benefits, is harmed by the economic policies of Trump.

Among the rest of great values, Santander (MC:) yielded 1.0 percent, Telefonica (MC: a) 0.5 per cent and Inditex (MK:) a 0.43 per cent, while the oil company Repsol (MC:) rose 0.23 per cent, supported by expectations of an improvement of the oil business.

Acerinox (MC:) won 2 percent, driven by the rise in target price by JP Morgan (NYSE:).

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