Wednesday, February 8, 2017

The banking drag to ground negative to the Ibex-35 – Investing.com Spain

MADRID (Reuters) – The closed on Friday on negative, dragged by banking and new concerns for the political situation in Europe, with elections in France and the doubts about the economy of Greece in the spotlight.

All bank securities had a negative impact of political uncertainties, especially in France, in a day in which the attention was also on the new business in the absence of great references macroeconomic.

Gas Natural (MC:), Mapfre (MK:) and Parques Reunidos (MC:) updated their accounts with different luck. The group gas is left a 1.4 percent after announcing a drop in its profit in 2016 in line with what is expected after a year marked by the weakness of the liberalised business in gas and the evolution of currencies in Latin america.

The insurer Mapfre, which made progress during a good part of the session after the announcement of an increase of 9.4 per cent in its net profit by 2016, fell at the close of a ratio of 1.66 percent. In the past six months, the value has registered a rise of 27 per cent compared to a rise of 9 per cent on the Ibex-35.

Outside the selective, Parques Reunidos rebounded 0.4 percent, after reducing their operating losses, gross in its fiscal first quarter in a 41.3 percent thanks to the growth of their income.

The best value of the Ibex was the builder ACS (MC:), which gained 2.8 percent after its australian subsidiary CIMIC present a few results better than expected and is shot in the bag.

Also among the first positions of the table stood IAG (MC:) with an advance of 2 per cent. Analysts Sabadell (MC: a) noted the recent poor air traffic data and the outlook more positive for 2017 and recommended “buy”.

Only Sabadell (+0.4 per cent) were saved in the red in the banking sector, the largest weight in the selective of the Spanish stock exchange.

Santander (MC:) and BBVA (MC:) gave a 1.4 and 1.2 percent, respectively, while Bankia (MC:) fell 1 percent.

For its part, Caixabank (MC:) lost another 1 per cent, to be referred to at the close of the market increased its participation in the Portuguese bank BPI (LS:) the 84,52 per cent from the 45,16 percent.

Among the big industrials, Inditex (MK:) closed with a fall of 0.08 percent, while Telefonica (MC:) was up 0.4 percent.

The oil company Repsol (MC:) was penalized by the fall in prices , and gave a 0.8 per cent.

The Ibex-35 index lost 0.02 percent, 9.329,4 points, while the selective european FTSE declined by 0.14%.

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