The Ibex (-0.22%) is unable to rebound, weighed down by Trump's new tariffs

The US targets France after implementing aluminium and steel taxes in Brazil and Argentina

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Bolsamanía
Bolsamania | 03 dic, 2019 09:57 - Actualizado: 18:02
ep ibex
EUROPA PRESS - Archivo

Ibex has oscillated between red and green throughout the day. Finally, it closed on Tuesday with a fall of 0.22%, which has placed it at 9,135 points, and has thus gained the 2% losses it suffered in yesterday's session. The red numbers are imposed in the Spanish selective after a new issue of US tariff pressures on the rest of the world.

IBEX 35
11.473,900
  • 0,33%38,20
  • Max: 11.485,70
  • Min: 11.446,20
  • Volume: -
  • MM 200 : 11.299,24
14:00 24/12/24

After the US president announced on Monday tariffs on steel and aluminum on Argentina and Brazil, this morning the US has announced that it will impose tariffs of 2.4bn on French exports, such as cheese or champagne, in response to the 'Google rate 'French.

At the same time, the latest news about the trade war with China is not good because they push the deal away. Donald Trump has said that perhaps it would be better to wait after the 2020 elections to reach a pact. In this context, Wall Street yields more than 1% at the close of the market in Europe.

It should be remembered that on the other side of the Atlantic, the New York stock exchanges were not oblivious yesterday to the bad tone of the Old Continent parks and the Dow Jones closed with falls of almost 1%. In the US indices weighed the bad data of the manufacturing PMI, in addition to the pessimistic news about the commercial war.

COMPANIES AND OTHER MARKETS

Within the selective, we highlight the increases in Ence (+ 1.76%), which has been the best title together with Cellnex (+ 1.18%) and MasMóvil (+ 1.07%), avoiding that the index has done worse. Inditex (+ 0.83%) has been another of the companies to highlight, after receiving an improvement in its target price from Credit Suisse.

On the negative side, the worst values ​​have been the most affected by the trade war (ArcelorMittal: -3.24%; and ACS: -3.09%). Repsol (-0.35%) has also traded with 'red numbers' after announcing a 'profit warning' yesterday.

In addition, Santander's reorganization of its US subsidiary stands out. It has appointed Tim Wennes as the new CEO, it informed the Securities and Exchange Commission of the United States (SEC) at the end of yesterday's session on Wall Street.

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