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Trump balks the Ibex with the threat of new tariffs on Brazil and Argentina

Trump balks the Ibex with the threat of new tariffs on Brazil and Argentina


The selective principal closed Monday’s session by falling sharply in line with most global exchanges, after US President Donald Trump once again waved the hornet’s tariffs on his Twitter account.

Despite the upward trend in the beginning of the session, sales stained the stock markets red after the US president announced that he will reinstate the levies on steel and aluminum imports from Brazil and Argentina, accusing both countries having devalued their respective currencies to the detriment of American farmers.

In this context, the Ibex-35 started the month with a decrease of 2.09%, to 9,156.3 points, while the European FTSE Eurofirst 300 large index fell 24.64 points or 1.55%, to 1,569.06.

All securities closed Monday’s session in red, with the telecommunications company MásMóvil (MC: MASM ) leading the losses after leaving 4.35%.

In the banking sector, Santander (MC: SAN ) lost 1,555%, while BBVA (MC: BBVA ) left 1,8404%, Caixabank (MC: CABK ) yielded 0.5599% and Bankia (MC: BKIA ) lost 0.199%.

For its part, Sabadell (MC: SABE ), which received a cut in the recommendation to “equal weighting” of Morgan Stanley (NYSE: MS ), fell 0.8143%.

Among the large industrial values, Telefónica (MC: TEF ) fell by 2,244%, Inditex (MC: ITX ) yielded 2.0878% and the oil company Repsol (MC: REP ) lost 1.0147%.

Iberdrola (MC: IBE ), which received a cut in the “equal weighting” recommendation of Morgan Stanley, left 3,741%. On Monday, it announced that it will dismantle its last two coal plantsin 2020 and replace its production with wind and solar projects.

Enagás (MC: ENAG ), which yielded 2,4326%, also suffered a cut in recommendation to “underweight” Morgan Morgan.

The Mediaset television group (MC: TL5 ) lost 2.9025%. An Italian judge set a new hearing on December 6 for Vivendi’s request (PA: VIV ) to block the pan-European Mediaset Italia television project, two legal sources said on Monday.

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