The Ibex collects benefits after rebound by the vaccine; BBVA and Sabadell focus attention

MADRID, Nov 17 (.) – The Ibex-35 opened on Tuesday with slight declines after the rebound achieved the day before with the announcement of the pharmaceutical company Moderna on the success of its anti-COVID vaccine, while the banks continued to steal attention with news such as the confirmation of the merger negotiations between BBVA and Sabadell to deal with the pandemic.

BBVA shares fell 3.72% and its smaller rival Sabadell rose 4.34%, occupying both ends of the table, after both groups confirmed on Monday that they are holding talks about a possible merger that would create the second domestic bank .

The new entity would have close to 600,000 million euros in assets in Spain and a combined market capitalization of about 26,700 million euros.

With better expectations about the recovery due to the recent announcements on the candidate vaccines, investors are assessing the risks on the European stage in anticipation of the European Summit meeting on Thursday after Poland and Hungary vetoed the budgets of the bloc and the pandemic recovery fund.

Thus, the selective Spanish stock market Ibex-35 fell 26.20 points at 08:17 GMT, 0.33%, to 7,960.00 points, while the index of large European stocks FTSE Eurofirst 300 fell 0, 02%.

In the banking sector, Santander lost 1.25%, Caixabank lost 0.65%, Bankia lost 0.14% and Bankinter lost 1.17%.

Among the large non-financial stocks, Telefónica fell 0.20%, Inditex lost 0.47%, Iberdrola appreciated 0.26%, Cellnex gained 1.29% and the oil company Repsol lost 0.03%.

In the pharmaceutical sector, Pharma Mar advanced 1.47% after announcing on Tuesday that it has signed an agreement with STADA to commercialize the anticancer Yondelis in 15 countries in the Middle East and North Africa.

(Information from Michael Susin; edited by Jose Elías Rodríguez)