Italy and Spain are today the cross of a favorable day for European equities. The comments of the Italian government on the possibility of new elections in the country, which would put the budget that has cost so much effort to ‘control’ Brussels in a delicate situation, has today made investors very nervous, who have moved this concern to the market. Thus, the profitability of the Italian 10-year debt has shot away from maximums and, consequently, the banks of the country, which have started a trickle down and have dragged with them to the Spanish banks.
At this time, the main entities of our country are at the top of the Ibex 35 ranking , with CaixaBank (MC: CABK ) as the Ibex red lantern with losses close to 3%. Banco Sabadell (MC: SABE ) and Bankia (MC: BKIA ) lose around 2% and Santander and BBVA (MC: BBVA ) are down 0.8% and 1.21%, respectively. The Ibex 35 is, together with the FTSE MIB , the worst selective in the Old Continent, with falls of 0.3% that have already made it lose the level of 9,200 points and prevent it from closing the week in positive.
It has not been a good week for our banks. If Monday we started with a cut at the hands of Moody’s, who was suspicious of our banks and downgraded perspective, over the past five days we have witnessed price cuts and recommend the price of UBS (SIX: UBSG ) and Deutsche Bank (DE: DBKGn ). And if that were not enough, it is the sector, according to the Bank of Spain, with the lowest CET1 maximum quality capital time in all of Europe.
Next week it will be important to see what happens with the sector, which will start with the publication of results season. Thus, they will confess to the market Banco Santander (MC: SAN ), Bankinter (MC: BKT ) or Banco Sabadell.