European stock markets reach their worst level since March 2020

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Posted on March 8, 2022 In the Equity market in Europe we find a similar picture, the stock markets reach levels not seen since the hardest closing moments due to the pandemic. Last week closed marked by the resurgence of the conflict in Ukraine by Russia, with a weekend where we have seen attacks on civilians failing the ceasefire to establish humanitarian corridors. Sanctions by many international companies on Russia continue, while we are seeing the largest increase in energy in 14 years and that threatens to paralyze the global growth of the economy. The Russian invasion in Ukraine has led the European stock markets to their worst week since March 2020. The Euro Stoxx 50 ended last week with falls of 4.96%, to 3,556 points, while the Ibex 35 lost 3 .63%, up to 7,720 points. In the total calculation of the week, the Eurostoxx 50 left 10.44% and the selective Spanish Ibex 35 9.02%. Virtually all Eurostoxx 50 stocks closed in the red, highlighting for yet another week the declines in stocks from the banking sector such as ING (-9.71%) or Intesa Sanpaolo (-9.01%). The falls in Prosus (-8.51%), Stellantis or Kering also stood out. The only stock that closed in the green was Ahod Delhaize, which was up 0.83%. Within the Spanish stock market, the main sectors that drove the indices down were the financial sector, consumer services, telecommunications and information technology. Cellnex was the best value in the last session of last week with a rise of 3.95%, followed by Solaria (+1.62%) and Red Electrica (+1.11%). On the opposite side, Sabadell (-9.03%), Amadeus (8.61%) or Arcelormittal (-8.08%) left us with significant falls. Wall Street also closed the week with its main indices in negative due to fear of war, despite having presented very good employment data. The Dow Jones fell 0.53%, the S&P 500 0.73% and the Nasdaq fell 1.66%. INFORMATIONTitleEuropean stock markets reach their worst level since March 2020DescriptionIn the Equity market in Europe we find a similar photo, the stock markets reach levels not seen since the hardest closing moments due to the pandemic. Last week closed marked by the resurgence of the conflict in Ukraine by Russia, with a weekend where we have seen attacks on civilians failing the ceasefire to establish humanitarian corridors. Author GLOBALCAJA

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