The Ibex loses the 9,500 points after PNV announce their support for the vote of no confidence

Tension has taken hold of today's session. The vote of no confidence has taken center stage and investors have seen how it affected the market. The Ibex 35 has lost the 9,500 points, after closing with a fall of 1.05% to 9,465 points, its lowest level since February 2017. In addition, it closed the month of May with a fall of 5.2% for the general political instability.

The selective has started with increases and with banks, especially BBVA and Banco Santander, as leaders in these advances. However, as the session has progressed and the debate on the vote of no confidence has progressed, the Ibex has gone deeper into the falls. In fact, after the PNV has said that it supports the motion against Rajoy the Spanish index has fallen even more.

Banks have suffered the most this Thursday, although the situation in the profitability required in the secondary market to the debt of Italy and Spain relaxed on Thursday after the tensions experienced in recent sessions to the expectation of the evolution of political events in both countries.

Banco Sabadell has been the red lantern of the session with a fall of 3.49% to 1.43 euros. The fall of Caixabank, of more than 2.5%, has also been important. But the rest of the entities have not done well either. Bankia has dropped 1.76%. In addition, the entity chaired by Goirigolzarri has a new shareholder, after Artisan Partners bought 3% of the company.

For its part, the two major banks of the selective have closed with significant falls, although when at the open they were the ones pulling the Ibex upwards. In the end, Banco Santander fell by 1.6% and BBVA by 1.3%. But no heavyweight has done well. Inditex has dropped 1.42% and Telefónica has fallen 1.04%. Iberdrola has fallen 1.65% after its Brazilian subsidiary has lost the fight with Enel and has run out of Eletropaulo.

On the other hand, in the rises, there have only been eight values ​​that have managed to close in green. Acerinox has risen 1.01%, after the US has announced that it will impose tariffs of 25% on steel and aluminum of the European Union this Friday starting at 6.00 am. However, ArcelorMittal has reacted with falls of 0.31%.

In the Continuous Market, OHL has risen 4.42% after announcing the distribution of the dividend yesterday. Abengoa has also closed in green, with advances of 2.34%, although it has reported that creditors do not support its financial restructuring.

On the other hand, NH Hotel has been suspended almost the entire session until 16.00 due to a possible takeover. Finally, it closed with a slight rise of 0.79% to 6.4 euros. The hotel group has confirmed that HNA is in talks with investment groups and the Thai Minor has indicated that it would be interested in buying the participation of 26.3% of the Chinese HNA in NH Hotel Group

POLITICS TAKE CENTER STAGE

The vote of no confidence proposed by the leader of the PSOE, Pedro Sanchez, against the Spanish Prime Minister Mariano Rajoy, has been the main focus for investors. The PNV has already made a decision to support the vote and it could mean the ousting of Mariano Rajoy as president of the Government. The Basque nationalist party has informed the PP that this Friday it will vote in favor of the motion.

Outside Spain, the rest of European stock markets closed with falls. In the case of the German DAX 30, the drop was 1.4%, hurt by the fall of Deustche Bank after being included in the list of problematic banks of the Fed. The Cac 40 of France dropped 0.53 % and London's FTSE 100 has risen by 0.02%. For its part, Wall Street is trading with a mixed sign following Trump's decision to impose tariffs on the European Union.

On the other hand, the risk premium has moved to 112 points on Thursday after the announcement of the support of the PNV to the vote. The differential with the German 'bund' is currently reduced by 7%, although with great volatility given the political instability.

It is necessary to stay aware of the support that has the selective has in the 9.330 points, annual minimums. It should be noted that, if we look at the European weight exchanges, Dax and EuroStoxx futures are in the support area. "As long as there is no drilling, there is room for hope ... although more in Europe than in our Ibex", say the experts of 'Bolsamania'.

The economic-stock exchange agenda on Thursday brings more things. In Spain, the GDP grew by 0.7% in the first quarter. In the Euro Zone, inflation rose by 1.9% in May due to energy and services. In addition, also in the Euro Zone, unemployment fell to 8.5% in April, its minimum since 2008.