The Ibex-35 is down more than 1%, moving away from 8,200 points
Geopolitical tensions are returning to the forefront of risk for investors who, moreover, are trailing several sequential increases and may take advantage of the uncertainty to reap benefits.
The unexpected attack of a missile on the territory of Poland, a NATO member state, reactivated the exit of risk assets and the Ibex-35 lost 1.06% at the end, although it managed to keep at least the full 8,100 at the close of 8,101.4 points .
The red figures were led by Fluidra, which lost almost 5%. However, IAG was the asset that exerted the most downward pressure due to its greater weight in the market, falling 4.76%. The publicly traded company ended its bullish streak, hit in part by the ill-feeling the sector is stirring up in the market that day.
It’s not just about the impact of the increased tension caused by the war. The sector is also being weighed down by the collapse of about 12% of Air France’s shares, after the airline announced a new issue of EUR 300 million convertible bonds to strengthen its balance sheet. An operation that will dilute the participation of the current shareholders.
Against this background, the rises in financial and energy prices were not enough to prevent the Ibex from moving beyond the 8,200 points it reached at the start of the session. Specifically, the top of the table was led by CaixaBank (+1.52%), Endesa (+1.04%), Bankinter (+1.02%), Red Eléctrica (+0.55%), Sabadell (+ 0.48%), Repsol (+0.46%) and Mapfre (+0.33%).
In the commodities market, oil prices fell sharply again, with a barrel of Brent, the benchmark in Europe, at $91.92, while West Texas in the US was around $84.5.
Source: La Verdad
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
