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スペインのBANKIA銀行負債問題で、スペインの10年の国債の金利は、6%を超え、株価も下落する
Las dudas sobre la banca impulsan la prima de riesgo a un nuevo máximo anual
El diferencial de rentabilidad del bono a diez años llega a 458 puntos básicos
El Ibex cae un 2,77% y cierra en 6.812,7 puntos, su mínimo nivel desde junio de 2003
Doubts on banks drive the risk premium to a new yearly
The bond yield spread to ten years comes to 458 basis points
The Dow fell 2.77% to close at 6,812.7 points, its lowest level since June 2003
See real-time quotes
Lafont Isabel Madrid 9 MAY 2012 - 17:53 CET
The bond yield spread to ten years comes to 458 basis points
The Dow fell 2.77% to close at 6,812.7 points, its lowest level since June 2003
See real-time quotes
Lafont Isabel Madrid 9 MAY 2012 - 17:53 CET
The future and Bankia, the fourth Spanish financial institution, and therefore, the whole sector, has weighed like a stone during the day in the markets, which have not abated even with the announcement of the entry of the State in capital from its parent, Bank Savings Financial (BFA).
The markets started the day under pressure from banks and renewed uncertainty after Greek elections on Sunday, the result precludes the formation of a stable government and could even force a repeat of the elections next month.
The Ibex has released the day with a slight decline has been extended as negotiations progressed and lost 16.10 3.06%, to 6792.8 points. In the bond market, investors demand in the afternoon the Spanish bond to ten years more than 455 basis points more than the assets of equivalent German government bonds, thus the risk premium is at levels not seen since Last November (reached a record high this month 22 in 468 basis points) and performance has exceeded that bond today for the first time since April 27 last the 6% threshold of concern that are approaching the levels that caused the intervention in Greece and Portugal. The spread had started the day in 430 and has come to play the 458 basis points during the session.
The risk premium Italian, who tends to follow the evolution of Spanish although it is some points below, today marked a maximum of 414 basis points, after starting in 391, which returns records for three months.
Losses weigh all day on the financial sector have spread to the insurer Mapfre, which left 7.24% at 16.10 and became the worst hit Ibex value. Mapfre announced today that it closed the first quarter of the year with a net profit of 271.4 million euros, representing a decrease of 12.5% compared to 310.1 million the same period last year due to the absence of extraordinary income and lower capital gains. The insurer maintains since 1998 a strategic alliance with Caja Madrid, one of the seven boxes clustered in Bankia, for the marketing of their products.
Next in Bankia decreases (-6.68% to 16.10), which started the session with a decrease of 6.2%. Now assume the presidency of José Ignacio Goirigolzarri entity, who was CEO of BBVA to 2009, and has been designated by the Government of Mariano Rajoy to captain the reorganization of the entity until Monday chaired by Rodrigo Rato, and requiring an injection of public funds, will be articulated as a convertible loan capital of between 7,000 and 10,000 million euros.
Bankia looked together in the fall for the rest of the banking-sector values more weight on the Ibex-in its descent. Caixabank was down 7.24%, 6.33% Popular, BBVA a 5.65, 5.47% Bankinter, Santander and Sabadell 5.39% 4.63%.
Investors believe that the rescue of the entity and the substitution of its top management will not be enough to restore confidence in the Spanish banking system, burdened by problem loans, some 184,000 million according to estimates by the Bank of Spain, derived from estate orgy of the past decade. "The true sign will come when a credible detail how they will clean up balance sheets of the entire financial system," said Bloomberg Ricardo Wehrhahn, a partner at consulting firm Roland Berger.
On Friday, the Government announced a new financial reform and regulate the output of real estate assets off balance sheet entities, imposed additional provisions for assets classified as healthy even brick, rising from 7% imposed by the regulations approved last February to 30%. According to anonymous sources cited by Bloomberg, this will require additional allocations amounting to about 30,000 million euros.
After these questions is the escalation of the risk premium to 450 basis points, a new annual high.
Investors also welcomed the quarterly sales of Amadeus and Endesa. The first, after being in the red throughout the morning, managed to climb 0.29% in the afternoon, while the power was left 1.77%.
Endesa won 621 million euros between January and March, representing a decrease of 7.2% over the same period last year due to falling business in Spain and Portugal. Amadeus adjusted profit was 167.9 million euros in the first quarter, representing a 22.1% increase over the same period last. The company has stated that this figure excludes net of tax effect of amortization and impairment of fixed assets, changes in the fair value of financial instruments and foreign exchange differences and non-operating exceptional items and discontinued operations, including the sale of assets and shareholdings and IPO.
The rest of the European markets also charged today with slight losses in equity volatility on the future of the euro zone created by the Greek elections inconclusive. Shortly after noon, London was down 0.51%, 0.59% Paris, Frankfurt and Milan 0.03% 1.13%.
The common currency reflects the vulnerability of the area with a further fall against the dollar and has come to trade at 1.2920, a level not touched since last January.
The markets started the day under pressure from banks and renewed uncertainty after Greek elections on Sunday, the result precludes the formation of a stable government and could even force a repeat of the elections next month.
The Ibex has released the day with a slight decline has been extended as negotiations progressed and lost 16.10 3.06%, to 6792.8 points. In the bond market, investors demand in the afternoon the Spanish bond to ten years more than 455 basis points more than the assets of equivalent German government bonds, thus the risk premium is at levels not seen since Last November (reached a record high this month 22 in 468 basis points) and performance has exceeded that bond today for the first time since April 27 last the 6% threshold of concern that are approaching the levels that caused the intervention in Greece and Portugal. The spread had started the day in 430 and has come to play the 458 basis points during the session.
The risk premium Italian, who tends to follow the evolution of Spanish although it is some points below, today marked a maximum of 414 basis points, after starting in 391, which returns records for three months.
Losses weigh all day on the financial sector have spread to the insurer Mapfre, which left 7.24% at 16.10 and became the worst hit Ibex value. Mapfre announced today that it closed the first quarter of the year with a net profit of 271.4 million euros, representing a decrease of 12.5% compared to 310.1 million the same period last year due to the absence of extraordinary income and lower capital gains. The insurer maintains since 1998 a strategic alliance with Caja Madrid, one of the seven boxes clustered in Bankia, for the marketing of their products.
Next in Bankia decreases (-6.68% to 16.10), which started the session with a decrease of 6.2%. Now assume the presidency of José Ignacio Goirigolzarri entity, who was CEO of BBVA to 2009, and has been designated by the Government of Mariano Rajoy to captain the reorganization of the entity until Monday chaired by Rodrigo Rato, and requiring an injection of public funds, will be articulated as a convertible loan capital of between 7,000 and 10,000 million euros.
Bankia looked together in the fall for the rest of the banking-sector values more weight on the Ibex-in its descent. Caixabank was down 7.24%, 6.33% Popular, BBVA a 5.65, 5.47% Bankinter, Santander and Sabadell 5.39% 4.63%.
Investors believe that the rescue of the entity and the substitution of its top management will not be enough to restore confidence in the Spanish banking system, burdened by problem loans, some 184,000 million according to estimates by the Bank of Spain, derived from estate orgy of the past decade. "The true sign will come when a credible detail how they will clean up balance sheets of the entire financial system," said Bloomberg Ricardo Wehrhahn, a partner at consulting firm Roland Berger.
On Friday, the Government announced a new financial reform and regulate the output of real estate assets off balance sheet entities, imposed additional provisions for assets classified as healthy even brick, rising from 7% imposed by the regulations approved last February to 30%. According to anonymous sources cited by Bloomberg, this will require additional allocations amounting to about 30,000 million euros.
After these questions is the escalation of the risk premium to 450 basis points, a new annual high.
Investors also welcomed the quarterly sales of Amadeus and Endesa. The first, after being in the red throughout the morning, managed to climb 0.29% in the afternoon, while the power was left 1.77%.
Endesa won 621 million euros between January and March, representing a decrease of 7.2% over the same period last year due to falling business in Spain and Portugal. Amadeus adjusted profit was 167.9 million euros in the first quarter, representing a 22.1% increase over the same period last. The company has stated that this figure excludes net of tax effect of amortization and impairment of fixed assets, changes in the fair value of financial instruments and foreign exchange differences and non-operating exceptional items and discontinued operations, including the sale of assets and shareholdings and IPO.
The rest of the European markets also charged today with slight losses in equity volatility on the future of the euro zone created by the Greek elections inconclusive. Shortly after noon, London was down 0.51%, 0.59% Paris, Frankfurt and Milan 0.03% 1.13%.
The common currency reflects the vulnerability of the area with a further fall against the dollar and has come to trade at 1.2920, a level not touched since last January.
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