The Ibex loses the 9,400 attentive to the declarations of May
Fear of a 'tough Brexit' threatens the market
- This Tuesday starts the World Economic Forum Annual Meeting in Davos
- The IMF increased its growth forecast for Spain to 2.3%
- En castellano: El Ibex lucha por mantener 9.400 atento a las declaraciones de May
Actualizado : 10:06
The uncertainty surrounds European stock markets before Prime Minister Theresa May appears this Tuesday to explain her plans for Brexit. The Ibex is quoted with 0.3% falls and loses the level of 9,400 points.
It is expected that at 11:45 am the Prime Minister of the United Kingdom will reveal the 12 priorities for her departure from the European Union (EU). According to the Daily Telegraph, May will confirm Britain's departure from the European common market and will place particular emphasis on monitoring the number of people entering and living in the country.
European stocks open without the US benchmark, which remained closed on Monday for the Martin Luther King holiday. Main indices closed lower on Monday and the market expected to approach this session cautiously.
THE FALL OF THE LIBRA WEIGHS THE BANK AND IAG
The falls of the Banks and IAG stand out in Ibex. The banks are being the worst titles of the day with Popular rebounding. On the other hand, the airline based in London is one of the main affected by the Brexit, and this session continues with the falls.
In the currency market, the pound recovers part of the lost ground on Monday against its main peers, the euro and the dollar. This morning the pound is changed by 1.137 with the European currency, while the exchange rate is 1.211 against the dollar.
In addition, the World Economic Forum Annual Meeting starts this Tuesday. The event begins this afternoon with the welcome message from Klaus Schwab, founder of the Forum, which will be followed by the presentation of the Crystal Awards.
GREATER GROWTH OF ECONOMIES
The International Monetary Fund (IMF) has raised its growth forecast for Spain to 2.3% from 2.2% in 2017. The monetary agency has also revised upwards the growth of advanced economies because it expects an impact of the Donald Trump Administration's economic policies in the United States.
In the oil market, the barrel Brent trades practically at the same level around which the last session was spinning, at 55.5 dollars.