European stock exchanges opened flat on the day before the Organization of the Petroleum Exporting Countries (OPEC) meeting, in which member countries will decide whether to finally carry out the production freeze. Ibex trades with slight rises of 0.4% in the openin, quoting close to 8,600.
Investors remain concerned about Spanish banks after Popular's 8% fall during the last session. Since the arrival of Angel Ron to the presidency of the entity, in May 2006, its shares have plunged 95% and now are trading in 1987 lows. The shares of the entity bounce slightly on Tuesday and rise around 0,7%.
In addition, the bank is involved in a restructuring process, which has already completed 65% after the closure of 195 new branches out of a total of 302 planned.
On the other hand, short funds redouble their bet against some of the values most punished in recent weeks in the Ibex 35. Companies as Telefonica, Popular or Dia ar experiencing the pressure of shorts historical highs. Meanwhile, Indra has launched a tender offer for Tecnocom at 4.25 euros, which represents a premium of 12% above last close.