- The Spanish index closed the month of May with cumulative increases of 1.5%
It starts June in the markets and does it with moderate movements (Ibex: + 0.08%, 10,890 points) and with one of the protagonists of this month, Banco Popular, in the 'eye of the hurricane'. The entity falls again today (8%) after falling 6% yesterday.
- 19.542,300
- 1,01%
Although the bank has never given official dates, it was unofficially referred to as June 10 as the 'deadline' for receiving binding bids. The spanish media El País reported yesterday that it is extended until the end of the month because there is no buyer interest. In addition, Reuters broke the news that the Single Banking Resolution Board (the European Banking Union's resolution authority) closely monitors Popular and it is not ruled out that the bank may end up needing some kind of intervention to save its situation. However, the Single Board stated that it monitors all banks and that it had issued no specific alerts on any.
This Thursday the alert will continue with Popular, which has announced the sale of its 48.98% stake in TargoBank, and also in what may be speculated for the meetings of the European Central Bank (ECB) and the Federal Reserve (Fed) Of the days 8 and 14 of June, respectively
The UK also continues to focus attention. The elections there coincide in the day with the meeting of the European Central Bank (ECB) with some nervousness before the rise of the Labor Party. It will be necessary to see if Theresa May gets that majority support that she is looking for to 'face' the European Union (EU) sufficiently supported or if the order ends up costing him politically expensive.
The Ibex faces all this after closing the month of May with cumulative increases of 1.5%. As we have been telling you, after a relatively quiet and transitional month, June promises to be a lot more moved given how busy the calendar is.
