The Ibex falls again dragged by BBVA and moves further away from the 9,700 points

Fears of the contagion effect of the Turkish lira crisis have dominated the mood of the markets on Monday, after red settled on the world stock markets at the end of last week. The Eurasian country is the third main market for the Basque bank, so that the drop of 5% last Friday is added today.

But the entity has not been the only entity that has been dyed red on Monday. In fact, in the falls, BBVA leads followed by Banco Santander (-2.43%). The other listed banks have also suffered losses of between 0.3% and 1.7%.

CRISIS IN TURKEY

All this is due to the bleeding of the Turkish lira, which has fallen in value by more than 47% so far this year, which will continue to mark the pace of the stock indices. The grip of fear will be felt with particular force in the banking sector, after the European Central Bank (ECB) itself admitted its concerns about a contagious effect that Spanish, Italian and French banks would have as first victims.

But not only the banks suffered after the words of the ECB. The euro fell sharply and has continued to stretch its bearish figure on Monday, to a new 13-month low at $ 1.1370, prices not seen since July 13, 2017, from where it recovers to $ 1.1412 . The Turkish lira, on the other hand, has overcome the barrier of 7.00 units per dollar, up to a minimum of 7.24 lire, from where it rises to 6.9313 lire for each 'greenback' at the close of the Spanish market , after several media have reported that the government does not plan to seize deposits among the measures that will be announced this Monday to contain the currency.

It has also helped to shore up the currency steps taken by the Central Bank of Turkey, which has announced a reduction in the ratios for bank reserves, and the statement by Turkish Finance Minister Berat Albayrak, who in statements this past evening let us see a package of fiscal measures to strengthen the independence of monetary policy, which will last for an initial space of 100 days. He also explained that the measures will be explained by the corresponding financial institutions.

MORE ALTERNATIVE AND CONTINUOUS VALUES

Back to the Ibex, the most outstanding green value was Amadeus (+ 2.01%), which celebrated the acquisition of TravelClick, announced last Friday after the closing of the market and considered a purchase "with strategic direction". Profits were followed by Viscofan (+ 0.66%) and Cellnex (+ 0.57%).

Meanwhile, in the main board, the 12% collapse of Bayer stood out on Monday. The German company reacts in the market to the uncertainty that hangs over it, after Monsanto (the US firm that acquired in June) has been sentenced to pay 298 million dollars for damages to a man who claims to have contracted cancer using one of their products.

However, the mining company Berkeley has outperformed in the falls with a decrease of 30.2%, and continues its roller coaster in less than a month that began trading in Spain.

OTHER STOCKS AND MACROECONOMICS

Outside of Spain, the rest of the European markets have also been listed in red in general, highlighting the collapse of Psi 20 Luso, which has dropped more than 1.3%. Only the French Cac 40 has been unmarked, with a slight rise. Meanwhile, Wall Street quotes in mixed sign.

All in all, in Asia, red has also prevailed in all the regional parks, which have been hard pressed by the Turkish crisis and the emerging ones. The Nikkei has lost 1.98%, pressured by the strength of the yen, which has acted as a safe haven.