Strong falls in the Ibex at the start of the week as IAG and BBVA collapse

The Ibex 35 started the week with notable falls of 1.76% (8,343.50 points), much higher than those of the rest of the European stock markets, due to the strong cuts in BBVA (-7.7%) and IAG (-5 ,5%). The bank, with significant exposure to Turkey (it has 49.8% of Garanti), blames the collapse of the Turkish lira on Recep Tayyip Erdogan's removal the president of Turkey's central bank, Naci Agbal. Abal was fired on Friday, after just five months in office, after raising interest rates.