La Bolsa cae un 0,88% al cierre arrastrada por el desplome de la entidad
El Ibex acaba en 7.047,7 puntos tras perder más de un 2% por la mañana
El FROB dice que los accionistas de Bankia deberán costear el saneamiento
Isabel Lafont Madrid 10 AGO 2012 - 18:57 CET
The stock is down 0.88% at the end driven by the collapse of the entity
The FTSE ends at 7047.7 points after losing more than 2% in the morning
The FROB said shareholders should pay for sanitation Bankia
Lafont Isabel Madrid 10 AGO 2012 - 18:57 CET
The Spanish stock market has broadened the slight fall recorded in the opening dragged Bankia, after an inexplicable escalation during two sessions (Wednesday rose more than 24% and 19% yesterday), today has come to plummet by 27 %. The Bank Restructuring Fund (FROB) has been forced to jump into the fray and pointed out that both Bankia as Banco de Valencia (part of Bancaja and yesterday shot up 135%) are nationalized entities, which are undergoing a "rigorous review process accounting, revaluation of his assets and restructuring of their own resource base" and that the shareholders of both "shall participate in covering the cost of reorganization."
The Dow has reached 2.08% left in the first hour of trading and has played a minimum at 6962.2 points. From that moment cutting has slowed and ended the session at 7047.7 points, with a cut of 0.88%. Bankia has tried to maintain the momentum of recent days and is up 7.73% at the opening, but soon reversed the up and has come to fall by 27%. At the end of the day, the organization leading the Dow's losses with a decline of 19.89%, followed by Sacyr Vallehermoso (-3.17%) and Gamesa (-2.91%). At the other end, Indra (+2.9%), Mediaset (+2,21%) and Acciona (+1,39%) are the values with higher profits.
In the rest of Europe, the markets have started the day under pressure from the new data confirm that the economic weakness in Europe and America is taking its toll on China, the world engine in recent years and responsible for, among other effects, pull that Latin American countries have lived through its raw materials.
It has also been stagnant now known French industrial production in June, the International Energy Agency has cut oil demand forecast for this year and next and the United States expects this year's smaller crop of corn in six years, but due to the drought since 1956, as announced by the Department of Agriculture.
The German Economy Ministry said in its report released today August that recovery across the globe is "fragile" and that "the hope that the world economy will revive after a moderate growth during the winter months is showing premature given the further deterioration of the banking crisis and debt. "
London has lost 0.08% at the end of the day, 0.61% Paris, Frankfurt and Milan 0.29% 0.72%. "Ai While markets have been rising recently despite the bad news, with the expectation that these are the trigger for further monetary stimulus by central banks, the deterioration of basic data is becoming harder to ignore "said Jonathan Sudaria Bloomberg, a trader at brokerage firm Capital Spreads in London.
Exports from the second largest economy grew only 1% in July, compared with 8% expected, while imports increased by 4.7%. The Bank of China also reported falling in yuan new loans issued last month, 540,000 million, up from 919,800 in June.
In the government bond market, the risk premium, excess return that investors demand to 10-year Spanish bond over its German counterpart, has climbed over 550 points, to 554 (5.54 percentage points), which has placed the type required of the term debt in the secondary market at 6.924%. At the end of the day was down to 552 points differential and the rate at 6.907%. The risk premium Italian has touched the 457 points, while the 10-year rate has reached 5.943%. In the afternoon we relaxed in the 451y 5.902%, respectively.
Behind these movements is the flight to German bonds, which are considered safer in an environment of economic weakness. The type of the bund was at the end of the day of 1.385%.
But, as has occurred in recent days, pressure has grown to feel with particular intensity in the shortest time, precisely those who were most benefited by the arrangement shown on 2 August by the President of the European Central Bank ( ECB), Mario Draghi, to intervene in the immediate maturities of the yield curve.
The soothing effect of this expectation has blurred, and today, the type of Spanish debt at that time has come to 4.205%, its highest level in a week, but closed at 4.197%. Italian bonds with that maturity has come to contribute 3.44% today, also its highest reading since last Friday. In return, the titles to two years now German investors have been willing to pay since early July, the return on these bonds is negative in the secondary market-a 0.082% 0.097% very close was reached on August 2 , the lowest rate recorded since 1990. At day's end, the return on these bonds was -0.074%.
The data on Chinese foreign sector joins other known this week that certify the cooling of the first Asian economy, as slower growth in industrial production in July, the month that annual inflation was 1.8%, the lowest record in two years. Sales of China to the European Union fell 16.2% in July, while exports to the U.S. increased only 0.6% compared to 10.6% in June.
This seems to indicate more and more confidence that the Chinese authorities will practice new monetary stimulus measures, as a further reduction in reference rates or a reduction in reserve requirements of banks, freeing up resources that could be used to grant loans.
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