The Ibex 35 falls 4.3% and closes at its lowest since January weighed down by banks

MADRID, 15 Mar.

The Ibex 35 falls 4.3% and closes at its lowest since January weighed down by banks


The Ibex 35 has closed with losses of 4.37%, which has led it to stand at 8,759.1 integers, thus marking its minimum level since last January 11, given the turbulence caused as a result of the doubts raised at Credit Suisse.

The day was once again marked by the fall of the six listed Spanish banks. Banco Sabadell has repeated as the 'red lantern' of the bank, being the entity that has fallen the most in today's session, with 10.49%, which led it to set a price of 1.01 euros. The entity of Catalan origin was also the bank that sank the most after the resolution of Silicon Valley Bank and Signature Bank.

Behind Sabadell were BBVA (-9.60%), ArcelorMittal (-8.89%), IAG (-7.36%), Repsol (-6.95%), Acerinox (-6.93% ), Banco Santander (-6.89%), CaixaBank (-6.72%), Bankinter (-6.46%) and Unicaja Banco (-6.06%). On the other hand, of the 35 companies listed on the selective, only Iberdrola has registered a positive advance of 0.14% at closing.

The falls in banking have occurred in parallel to the turbulence that the price of the Swiss bank Credit Suisse is registering. The financial entity registered decreases of more than 20% this Wednesday after its main shareholder, the Saudi National Bank, has refused to contribute more capital to the entity, since it would exceed a 10% stake, something that it has rejected before the Anglo-Saxon press brandishing regulatory reasons.

Credit Suisse lists these issues a week after reporting that it was delaying the release of its 2022 annual report after receiving a notice of technical issues from the US financial regulator. Subsequently, the entity acknowledged having detected a "material weakness" in the internal control of financial information.

In this way, the shares of the Swiss bank have fallen more than 30% this Wednesday, although they have finally closed the session trading at 1.70 francs (1.74 euros), so the contraction has been limited to 24 ,1%.

The falls have not been registered exclusively in the Ibex, since the rest of the big European markets have experienced a similar evolution. The German DAX has fallen by 3.27%, while the French CAC 40 has fallen by 3.58%, the British FTSE 100, 3.83% and the Italian FTSE MIB, 4.37%.

In the raw materials market, a barrel of Brent fell to $72.57, 6.33% less, while West Texas Intermediate was trading at $66.57 a barrel, 6.66% less.

The yield in the secondary debt market of the Spanish bond with a maturity of 10 years has been located at 3.254%, from 3.484% in which it closed on Tuesday. Thus, the risk premium offered to investors in Spanish debt compared to German debt has stood at 104 basis points.

In the foreign exchange market, the euro has depreciated by 1.78% against the dollar, losing the level of 1.05 dollars per euro.