The Ibex 35 falls 1.46% due to the collapse of Grifols (-25.9%) but saves 10,000 points in the end

MADRID, 9 Ene.

The Ibex 35 falls 1.46% due to the collapse of Grifols (-25.9%) but saves 10,000 points in the end


The Ibex 35 closed this Tuesday with a decline of 1.46%, reaching 10,060.3 points, due to the collapse of Grifols, which fell 25.91% after a report from the bearish Gotham City Research that puts doubts its accounts and questions its sustainability.

Thus, the Spanish selective has signed its worst decline since last October 3 (then it subtracted 1.65%) and before an upward trend began at the end of that month that led the indicator to mark, at yesterday's close same, a result of 10,209 integers, a level that has not been seen since mid-2018.

The session revolved around the news that was happening around the Catalan homoderivatives company and that ended up infecting the majority of the Spanish selective to a downward trend, to the point that, one hour before closing, it was an intraday minimum of 9,994.2 points, thus giving up the symbolic level of 10,000 points for the first time since the end of November; However, the Ibex has managed to soften the losses in the final stretch.

In more detail, the analysis firm Gotham City Research, known in Spain for having uncovered the Gowex fraud almost a decade ago, has accused Grifols of manipulating its debt and gross operating profit (Ebitda) ratios to artificially reduce the leverage and warns that his shares would be "non-investable", in his opinion.

For its part, Grifols has issued a statement in which it "categorically" denies any accusation of accounting practices or "erroneous" information in its consolidated financial statements.

At the same time, the National Securities Market Commission (CNMV) has assured that it is analyzing the report published by Gotham and has indicated that it is also in contact with the company.

In this sense, the president of the National Securities Market Commission (CNMV), Rodrigo Buenaventura, has expressed that "the CNMV is going to exercise its powers to clarify the situation" and that now it is not appropriate to suspend the company's listing because the Investors have the information to form their judgment.

"The suspension of trading is imposed when information is missing or asymmetrical, when the investor does not know it. This is not the current case," Buenaventura stressed at an event held at the Madrid Stock Exchange Palace.

Thus, after a first hour and a half of the session in which the auction has been conditioned by volatility, Grifols has lost 42%, finally concluding the negotiation with a decline of 25.91%. Behind were Repsol (-3.47%, due to the ex-dividend effect), Caixabank (-3.2%), Iberdrola (-2.96%, also affected by the ex-dividend effect), Colonial ( -2.67%), ArcelorMittal (-2.42%), BBVA (-2.19%), Bankinter (-1.81%) and Banco Sabadell (-1.74%).

On the other hand, only eight Ibex stocks made gains at the end of the session: Aena (1.55%), Acciona (1.15%), Enagás (0.7%), Sacyr (0.49%), Ferrovial (0.47%), Logista (0.24%), Cellnex (0.14%) and Amadeus (0.06%).

Outside the business sphere, investors learned this Tuesday that the eurozone unemployment rate stood at 6.4% last November, one tenth less than in October and the lowest in the entire historical series, despite the growing alerts about the risk of recession in the final stretch of 2023, while in the European Union as a whole it also marked a new minimum of 5.9%, dropping one tenth compared to the previous month, according to data published by Eurostat.

Likewise, it has been published that German industrial production in November has fallen by 0.7% in monthly rate when an increase of two tenths was expected, while the United States trade balance in November has shown a more moderate deficit than expected. what the market anticipated.

Corrections have also been observed in the rest of the main European stock markets in the session, although at much more modest levels than that of the Spanish market: London has fallen 0.13%; Frankfurt 0.17%; Paris 0.32% and Milan 0.53%.

In that time slot of the European stock market closing, in the raw materials market, a barrel of Brent advanced by 2.4%, to $77.95, and West Texas Intermediate (WTI), by 2.63%, to the 72.62 dollars.

In the debt market, the yield on the Spanish bond maturing in 10 years closed at 3.154% after adding four basis points, while the risk premium (the differential with the German bond) stood at 97 points.

In the foreign exchange market, the euro depreciated at closing time in the Old Continent by 0.17% against the dollar, reaching an exchange rate of 1.0932 'greenbacks' for each unit of the community currency.