The IBEX 35 drops 1.20% after the opening and loses 18,000 points
The main Spanish selective, the IBEX 35, fell 1.20% after opening this Monday and lost 18,000 points, after peace negotiations between the United States and Iran have failed, and the American president, Donald Trump, has threatened to block the Strait of Hormuz. After the opening, the IBEX 35 fell 1.20%, to 17,984.7 points. With this drop, the accumulated profits for the year are reduced to 3.92%.
Trump’s announcement to block the Strait of Hormuz starting this Monday (from 4 p.m. Spanish time), causes a sharp rise in the price of crude oil. Brent rose 6.64%, to $101.52, and Texas oil (WTI) rose 6.82%, to $103.16.
The price of natural gas for one-month delivery in the TTF market of the Netherlands, the reference market in Europe, also rises 8.60%, to 47.66 euros per megawatt hour (MWh).
Just this Monday, OPEC publishes its monthly report on the world oil market, the first to include estimates on the impact that the war in Iran and the blockade of the Strait of Hormuz has had on crude oil supplies.
Like the Spanish stock market, and while the euro is trading at 1.169 dollars, the rest of Europe has also started the week negatively: Frankfurt lost 1.25%; Paris, 0.99%; Milan, 0.88%; and London, 0.59%. And this, after losses have been imposed almost across the board in Asia: the Shanghai Stock Exchange has ended almost flat, while the Tokyo Nikkei has dropped 0.74%. The Hang Seng in Hong Kong falls 1.21%.
The futures on the main Wall Street indicators also anticipate a day in the red, after Trump announced that the United States will block the Strait of Hormuz starting this Monday after the failure of peace talks with Iran this weekend. (Efe)
