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The Ibex closes its fourth session in negative after the new tariff threats

The Ibex closes its fourth session in negative after the new tariff threats

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Despite starting the day bouncing, the Ibex-35 closed on Tuesday with losses for the fourth consecutive day, in a context of pessimism at the words of the US president about a possible delay in the trade agreement with China.

Donald Trump said a trade agreement with China may have to wait until after the US presidential elections in November 2020, thus turning away hopes for a rapid resolution of the trade dispute, which balked European stock markets and devalued the yuan Chinese.

In addition, Trump threatened Monday to impose tariffs on French products worth $ 2.4 billion and restore tariffs on steel and aluminum imports from Argentina and Brazil.

In response to tariff threats, the French government said on Tuesday that France and the European Union are ready to retaliate and respond to the United States.

In this context, the Ibex-35 closed with a decrease of 0.22% and returned to lows at the beginning of October, up to 9,135.7 points, while the European FTSE Eurofirst 300 large index fell 10.37 points or a 0.66%, to 1,557.96.

The banking sector balked the index. Santander (MC: SAN ) lost 0.8759%, while BBVA (MC: BBVA ) left 0.7777%, Caixabank (MC: CABK ) lost 0.6006% and Bankia (MC: BKIA ) fell 1 , 8519%. Sabadell (MC: SABE ), on the other hand, rose 0.2203%.

Among the large industrial values, Telefónica (MC: TEF ) fell 1.1624%, Inditex (MC: ITX ) gained 0.8312%, Iberdrola (MC: IBE ) rose 0.0698% and the oil company Repsol (MC : REP ) lost 0.3535%.

At the head of the Ibex, the Ence bin (MC: ENC ) registered 1,764% after chaining losses of 2.30% and 1.19%, respectively, in the previous two days.

Steelmaker ArcelorMittal (MC: MTS ), a sector exposed to international fluctuations, fell 3.2427% after Trump’s statements and the loss of hope about a rapid agreement between the US and China.

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