The Ibex-35 down over 1.5% at noon burdened by Greece and the … – Yahoo Finance Spain

The Ibex-35 down over 1.5% at noon burdened by Greece and the … – Yahoo Finance Spain

MADRID (Reuters) – The Ibex-35 was trading on Monday at noon with falls above the 1.5 percent driven by banks and the energy sector given the uncertainties market on the strategy of reversal of Greece’s austerity policies.

“Right now what we are seeing is a flight from highly leveraged sectors (high debt levels), such as financial and energy which are very sensitive to possible increases risk premiums and financing costs if the case of Greece is replicated in Spain, “said Prime Minister Javier Galan, fund manager at Renta 4.

Greek, Alexis Tsipras, reeled Sunday a list of initiatives to reverse the reforms imposed by the European creditors and the IMF, which include the cancellation of property tax, end up layoffs and salary minimum pre-crisis levels.

For Rent 4, the process of negotiations between the EU and the new Greek government will have an impact on short-term markets, especially in peripheral, although its baseline scenario assumes “finally come to a reasonable agreement with a rapprochement of positions between the EU and Greece, which falls should be seized to take positions.”

The market also saw conditioned by poor trade data in China in January, whose exports fell 3.3 percent yoy and imports plunged 19.9 percent, contrary to expectations by a wide margin.

At 12.00, the Ibex-35 fell 1.55 percent to 10,410.1 points, while European FTSEurofirst 300 stock index was left 0.84 percent to 1478.38.

Income fixed, the risk premium as the difference in the Spanish 10-year debt against its German equivalent rallied 8 basis points from Friday and stood at 119 basis points.

The banking sector, which has more weight in the Spanish selective Ibex dragged down with decreases of 2.2 percent in the case of BBVA, and 1.8 percent in Santander.

Banco Sabadell, Popular, Bankia and Bankinter is depreciated between 2.2 percent and 1.5 percent.

The Enagás and energy Ibedrola likewise stood between more liable to fall by around 2 percent values.

Amadeus was the worst selective value in percentage terms with a decline of 2.7 percent.

Just a few values ​​quoted upstream, including Gamesa, which was revalued by 0.8 percent after having signed two new contracts to supply wind turbines to India for a total capacity of 260 megawatts (MW) .