Spain’s IBEX Worse Performing European Stock Market in 2021, Finished Up 7.9%

The Spanish Blue-Chip IBEX 35 closed 0.46% higher at 8,713.80 on the final trading day of 2021 and up 7.9% in 2021. The market recovered from being down 15.5% in 2020 when it was its worst year since 2010. Spain’s index is well off the multi-year low of 5,815 on March 16th, 2020, as coronavirus fears and lockdown measures hit a crescendo. Germany, Spain and Italy were among the major European bourses closed for the New Year’s Eve holiday The … Continue reading “Spain’s IBEX Worse Performing European Stock Market in 2021, Finished Up 7.9%”

Spain’s IBEX Worse Performing European Stock Market in 2020, Finished Down 15.5%

The Spanish Blue Chip IBEX 35 closed 1% lower at 8,074 on the final trading day of 2020, down 15.5% for the year and the weakest stock index in Europe for the year in its worst year since 2010. Spain’s index bounced off the multi-year low of 5,815 on March 16th as coronavirus fears and lockdown measures hit a crescendo.

Resiliant European Service Sector Contrasts With Weak Manufacturing Output

The European services sector strength contrasts with weak manufacturing conditions. Growth was led by Germany and Spain. Suggesting that the domestic economies aren’t as burdened by the global trade war and Brexit drama. Resilient rate of growth that has lost some momentum.

Spain Budget Failure Fuels Snap Election With Catalan Parties Protest

Spanish PM Pedro Sanchez has called a cabinet meeting with a snap election after his budget was rejected in a 191-158 vote. The election will be held in April or May with Sancez’s Socialist Party leading in the polls after Catalan parties withdrew support.

Spanish, Italian and French Banks Are Most Exposed to Turkey

The Turkish crisis escalated over the past week and has sent flight risk contagion ripples through emerging markets. The fallout extends to those that are Turkey’s biggest lenders. There are five banks most exposed with Spains BBVA the most at risk

Spain’s Repsol Upstream Revenue Surges But Downstream Weighs

Repsol SA reported worse than expected second quarter results Thursday due to higher chemical costs hurting downstream earnings despite higher refining margins. Upstream delivered.  $REPYY, Spain’s oil major producer is seeking to diversity away from oil.