Ibex the ugly duckling of Europe once again as it falls below 10,000
BBVA, Telefonica and Inditex among the worst performing stocks
- Siemens Gamesa, DIA and Tecnicas Reunidas also among the hampers
- Other European markets saw gains on Tuesday
- En castellano: El Ibex vuelve a ser el 'patito feo' de Europa y pierde los 10.000 puntos
The Ibex 35 returned to its position of the ugly duckling among European indices on Tuesday, as the rest of its neighbours registered gains for the day, while the Spanish market fell 0.32% to 9,993.40 points.
After Barcelona missed the chance to host the European Medical Agency due to the Catalonia crisis, analysts at Oxford Economics calculated on Tuesday that the political uncertainty continues and could cost as much as 17bn euros until 2019.
The DAx 30 rose almost 1% despite the failure of Angela Merkel to form a government in Germany. Investors have put their money in the German market, betting on it to be more profitable than the Spanish equivalent.
MOVERS
In the Ibex, Siemens Gamesa was down 3.36% to 9.51 euros, and was the biggest faller on the day. Other fallers on the day were DIA (-2,67%), Bankia (-1,74%) and Técnicas Reunidas (-1,49%). Among the blue chips, BBVA was down 1.36%, followed by Endesa (-1.16%), Telefonica (-0.71%), Santander (-0.56%), Inditex (-0.47%) and Iberdrola (-0.19%).
On the other hand, Mediaset was up 2.67% after a positive note from JPMorgan, which also benefited Atresmedia by 3.87% in the general stock exchange. . ArcelorMittal was up 2.4%, while Melia hotels gained 2.23%.
In other markets, oil was seeing a mixed bag (Brent +0.4%, WTI -0.5%). Bitcoin hit new record highs of over $8000.