2023-05-15 19:28:50
The uncertainty about the final result of the presidential elections in Turkey caused a serious correction in the stock price of BBVA on Monday, whose titles lost 4.18% at the end of the day. The reason is none other than the bank’s significant exposure in the Turkish financial sector, where it controls Garanti, the second bank in the country and one of its main bets in recent years.
Despite everything, the Ibex 35 has closed with a fall of 0.35%, after the rise of 0.37% that it had observed in the first minutes of the session, leaving the index at 9,201.50 points, in one day marked by the update of the economic forecasts of the European Commission, the data of industrial production of the euro zone to the month of March and the festival of San Isidro in the city of Madrid.
This morning the European Commission has raised its growth forecasts for the Spanish economy in 2023 to 1.9%, five tenths above the winter forecast, while calculating an inflation rate in Spain of 4% for the current year, four tenths below past estimates.
For its part, the community statistical office, Eurostat, has released this Monday the industrial production index of the euro zone for March, a month in which a fall of 4.1% was registered compared to the previous month, when there were increased by 1.5%, which represents the largest monthly contraction since last October, while, compared to the same month in 2022, the data was 1.4% lower.
Thus, the Ibex was located at the close of the market at 9,201.50 integers, 32.60 points below the day on Friday. BBVA has been the value that has fallen the most (4.18%) after the elections in Turkey, above Aena (-2.10%), ACS (-1.79%), Logista (-1.44), and Ferrovial (-1.16%).
The rest of the markets, on the rise
On the other hand, the largest increases were registered by Solaria (+2.08%), Merlin Properties (2.3%), Melía Hotel (1.96%), Sabadell (1.32%) and Telefónica whose shares were revalued 1.16%.
All the European stock exchanges registered slight increases this Monday, I leave the Euro Stoxx 50, which fell 0.07%. The Italian FTSE MIB appreciated 0.92% at the end of the session; the British FTSE 100, 0.30%; the French CAC 40, 0.05%; and the German DAX index, 0.01%.
In the raw materials market, a barrel of Brent quality oil, a reference for the Old Continent, reached 75.33 dollars, 1.56% more, while Texas rose 1.58%, up to 71, 15 dollars.
For its part, the yield of the Spanish bond with a maturity of 10 years in the secondary debt markets increased slightly to 3.373%, from the 3.366% observed at the beginning of the session. Meanwhile, the risk premium fell by 1.56 points, to 107.1 basic points.
In the foreign exchange market, the euro has remained stable against the dollar, so the exchange rate has been around 1.0874 dollars for each euro.
#elections #Turkey #impact #BBVA #falls #stock #market