Thursday, November 6, 2008

Madrid and other European stock markets react to the announcement of the ECB falls

The European stock markets plunged yesterday, with falls in excess of 6%, in the case of the IBEX-35 reached 6.27% - despite the fact that major central banks of the Continent, and the European Central Bank lowered the interest rates. Once the euphoria of the electoral victory of Barack Obama, the fear of a global recession was imposed again in the securities markets. The FTSE 100 in London fell by 5.7% (4272.41 points), the Paris CAC 40 gave a 6.38% (3387.25 units), the Frankfurt DAX 30 fell by 6.84% (4272, 41 points) and the Madrid IBEX 35, he did a 6.27% (9133.90 units), the fourth biggest fall of the year. Among the great values of the Spanish market, Iberdrola ended the day with a fall of 8.80%, Repsol of 8.51%, 6.32% of BBVA, Banco Santander, of 6.24%, and Telefonica, 5 , 47 per cent. Wall Street. On Wall Street, the Dow Jones Industrial fell nearly 5% yesterday on the New York Stock Exchange, after the fall of retail sales in October to rekindle the fears of investors about the progress of the economy. As he approached the closure of the parquet New York, the Dow Jones Industrial index more important on Wall Street, down 450.73 points (-4.93%) to 8688.54 units, which are maintained by below the benchmark of 9,000 points. The Nasdaq market lost 67.72 points (-4.03%) and units stood at 1613.92, while the selective S & P 500 fell 48.64 integers (-5.11%), to be placed at 904.13 units . The NYSE composite index, which includes all securities listed on the New York Stock Exchange, down 350.1 points (-5.82%) and stood at 5662.07 units. Some experts believe that markets will show little impressed by the relaxation of the monetary policy of the main entities and consider that for operators of heavy cuts in interest rates are more a sign of desperation that impulse. Black anticipation of the IMF. The International Monetary Fund (IMF) predicted a global recession and predicted the first annual contraction of the advanced countries since World War II, dropping in eight tenths of its forecast global growth to 2.2 percent, the deterioration of the economy in the last month.

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