The european bags started the week with falls above 2 percent due to the increase in Economic sanctions a Russia for its war escalation in Ukraine and President Vladimir Putin’s order to put the nuclear deterrence forces on alert.
The EuroStoxx 50 fell from 3,900 points to close February at 4.88 percent, while the Ibex 35 resists at 8,400 to close at 1.47 percent.
the barrel of oil Brent exceeded $100 and the russian central bank climbed the interest rates at 20 percent.
The volatility could increase due to the exclusion of Russian banks sistema SWIFT currently implemented by the United States, the European Union, the United Kingdom, Japan, among other countries.
the italian bank UniCredit and the French Societe Generale plummeted more than 10 percent.
In Spain, Santander and Sabadell fell 5 percent while BBVA, CaixaBank and Bankinter they lost 3 percent.
In contrast, the renewable energy company Siemens Gamesa rose more than 14 percent and Solaria 10 percent. Fluidra it also recorded the best results in its history.
For Link Securities, a Spanish securities company, the European and US stock markets could choose to reduce their risk positions in equities and bet on assets such as the dollar, gold, oil and bonds, even if the latter leads to a drop in yields.
The concern now of many investors is to know the true scope of the war in Ukraine and, especially the sanctions imposed on Russia, are going to have on Western economies, since the impact on the economy of Ukraine and that of Russia itself will to be devastating. In addition, everything seems to indicate that, at the moment, China does not seem to be in the business of helping Russia to evade Western financial sanctions.”
With information from The Economist