European equities continue with significant declines

Posted on February 22, 2022 The stock market week begins with European shares suffering falls that place them at four-month lows, just like on Friday, when they also closed lower, due to the conflict between Russia and Ukraine. Thus, the Euro Stoxx 50 corrected 2.17% at the close of the session to 3,985 points, the Ibex 35 more moderate, which ended up falling 1.18%, to 8,488 points. At the sector level, the strong correction in the technology sector stood out on Monday, which has already fallen by nearly 20% so far in 2022, along with the chemical sector and automotive companies. On the other hand, we could appreciate a better relative performance for the energy, food and raw materials sectors. Regarding securities, all securities ended in red, but among the main falls we find Prosus (-7.23%), after learning of new regulatory risks in China for its investee Tencent, followed by Lòreal (-3.96 %) or Schneider Electric (-3.70%). At the national level, the chemical, oil and plastic, financial services, and construction sectors led the selective Spanish Ibex 35 lower. However, the rises of Almirall (+7.67%), after good results, and Laboratorios Rovi, which advanced by 2.34%, stand out. On the negative side, Naturgy closed with falls of 4.70% and has accumulated a drop of 19% so far this year. On Wall Street, last week ended with lower closing indices that fell 1.5%. On Friday, the Dow Jones fell 0.68%, the S&P 500 fell 0.72% and the Nasdaq fell 1.23%. Apart from the Ukraine border issue, markets were also influenced by strong inflation and the Fed’s aggressive tone. Yesterday, Monday, leaves us without data on Wall Street, after the holiday in the United States for Presidents’ Day. INFORMATIONTitleEuropean equities continue with significant declinesDescriptionThe stock market week begins with European shares suffering falls that place them at four-month lows, just like on Friday, when they also closed lower, due to the conflict between Russia and Ukraine. Thus, the Euro Stoxx 50 corrected 2.17% at the close of the session to 3,985 points, the Ibex 35 more moderate, which ended up falling 1.18%, to 8,488 points. Author GLOBALCAJA

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