• The diplomatic crisis between Qatar and Saudi Arabia, Bahrain, Egypt and the United Arab Emirates has many effects
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MAXIMO GARCIA DE LA PAZ

European market return to "action" on Tuesday with losses (Ibex: -0.3%, 10,851 points) after ending yesterday with declines and that the Dax remained closed for holidays. Investors are still waiting for the two most important appointments of the week - the European Central Bank (ECB) meeting and the UK elections, both on Thursday.

IBEX 35

  • 19.542,300
  • 1,01%

The diplomatic crisis between Qatar and Saudi Arabia, Bahrain, Egypt and the United Arab Emirates has many derivatives. It affects oil but also companies (Iberdrola, IAG, El Corte Inglés ...) and even the sport, because Qatar is organizer of the World Cup of Football 2022. Germany has already said that, if confirmed that Qatar has relations with terrorism, Will not attend the event.

At this time, oil turns around and adds 0.3% up, although the Brent barrel remains below 50 dollars (49.20 dollars). During the last session, as soon as the news of the tensions with Qatar was known, the oil increased the increases. However, he later turned around again. Since last May 25 the OPEC (Organization of Petroleum Exporting Countries) complied with the script and extended the production cuts in nine months, the oil has not stopped falling.

Banks are also starring on Tuesday. Not only because Banco Popular is living a decisive day (its summit meets with representatives of the ECB), but because there is talk of new problems in the European banking system. The Ftse MIB was left 1% this Monday. According to Reuters, the central bank of San Marino plans to inject money to its banks in problems that have 1,800 million euros of bad loans.

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