The falls in the stock market this year have taken their toll on Spain, which is losing weight in Europe after two of the country's largest listed companies,
Telefónica and BBVA
, have to abandon the
, the stock index that includes the 50 companies of the Eurozone with the highest capitalization.
The exit will be effective on September 18 and is the direct consequence of the
loss of value that both accumulate
so far this year.
The teleco has been devalued by 45.6% since January, which has left its capitalization at just over 17,300 million euros, somewhat above the 16,420 million that the bank led by Carlos Torres is worth after leaving 47 behind. , 8% of your rating.
It is the first time that both companies have left the index, to which they belonged since its creation, so that now only
Inditex, Iberdrola, Banco Santander and Amadeus
with the Spanish flag.
Along with them, Fresenius and Orange will also leave the EuroStoxx 50 Société Générale and, conversely,
Pernod Ricard, Kone, Vonovia, Adyen and Prosus
will join their respective vacancies.
The shares of the company chaired by José María Álvarez Pallete are around 3.25 euros in an especially difficult year for the company in the Ibex 35. Debt is one of the main detriment of the value before investors, although the company is immersed in a specific strategy to reduce it.
BBVA, for its part, ended Tuesday with its securities at 2.46 euros and is being particularly hit by the coronavirus crisis and its impact on the general banking sector.
In this sense, the vice president of the ECB, Luis de Guindos, called yesterday to undertake "urgently" mergers between entities to face the drop in profitability in recent years.
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