The Ibex opens the week with sharp falls penalized by the tourism sector
The tourist values register important decreases after the decision of the United Kingdom on Spain
The European indices are trading this Monday with falls, with the Ibex falling more than 1% penalized by tourism values, which are declining sharply. This, at the start of a very busy week that will be marked, in Spain, by the barrage of results from top-tier companies. In addition, the conclusions of the two-day meeting of the Federal Reserve (Fed) will be released on Wednesday. Otherwise, investors remain concerned about tensions between China and the US, not forgetting the escalation of the pandemic worldwide, especially in the United States.
IBEX 35
11.551,600
-
-0,16%-18,50
- Max: 11.617,50
- Min: 11.515,60
- Volume: -
- MM 200 : 11.046,08
This weekend there has been talk of the UK's decision to quarantine travelers coming from Spain. The tour operator TUI announced this Sunday that it is canceling all UK holidays to Spain until August 9, except for the islands, following this decision by the British Government. The Spanish Ministry of Foreign Affairs insists that the outbreaks are under control.
IAG sinks more than 8% after this news, while eDreams falls 6%, Aena, 4%, NH, another 4%, and Meliá, 3.5%.
On the other hand, Almirall's results were known this Monday, with a 31% drop in its net profit in the first semester impacted by Covid and the entry of generics that harm its medicines, and Ryanair's accounts (- 3.6%), which lost 185 million in its first fiscal quarter (from April to June), which it has considered "the most challenging" in its 35-year history.
As for the macro calendar for the day, investors will be watching the German IFO for the month of July. "The German IFO index has seen a rapid rebound since the April depression, but remained well below pre-crisis levels in June. Today's figures will complement last week's optimistic PMI message and confirm whether the German recovery accelerated in July, "say experts at Danske Bank.
At the end of the week, the GDP of the United States and that of a number of European countries will be known, as well as that of the euro area as a whole.
Also, on the other side of the Atlantic, Republicans are expected to unveil their proposals for a new round of stimuli today, which are rumored to include direct cash payments of $ 1,200 per person and reduced federal unemployment benefits.
