Evergrande crisis, the real estate giant that dies
The markets are looking on Monday towards
China
.
Despite the country's stock markets having been closed for a holiday, the delicate situation of its real estate giant Evergrande has dragged Hong Kong's Hang Seng index - the only one open - to a fall above 3.4% and has spread fears to international stock exchanges.
Evergrande
is on the verge of collapse and this morning has reached its lowest level in 11 years.
The company accumulates a debt close to 300,000 million dollars and has recognized that it will not be able to meet its more immediate payment obligations, scheduled for this week.
"This situation could lead to problems worldwide due to the strong exposure of Evergrande bonds that many international banks have, so we will have days of uncertainty ahead," warns
Diego Morín
, analyst at IG Markets.
In Spain, these fears translate into a 1.5% decline in the Ibex 35 in the early stages of the session.
The selective is increasingly moving away from the level of 8,700 points and starts the week with almost all its values in the red.
Especially bulky is the
ArcelorMittal
crash
, which is down more than 5% at the start of the day.
It is followed by the banking sector with
BBVA
(-4%) in the lead, followed by
Banco Sabadell
(-3.4%), Bankinter and CaixaBank, both with declines of around 2.7%.
In contrast, only IAG (+ 2.9%), Grifols (+ 1.3%), REE and
PharmaMar
remain positive.
The rest of the European stock markets also opened in negative with falls of 1% for Paris, Frankfurt and London.
On the other hand, the price of a
barrel of
Brent
oil
, the reference for Europe, stood at a price of 74 dollars, with a decrease of 1.15%, while Texas stood at 70 dollars, after falling 1 , 31%.
According to the criteria of The Trust Project
Know more
Hong Kong
Inditex Group
Santander
Telephone
economy
The Government figures its hack at the electricity companies at 2,600 million to leave the 2021 bill at 600 euros
Energía Sánchez declares war on electricity companies and will confiscate their extraordinary profits to stop gas: "They can afford it"
The David Gistau Journalism Prize receives 350 nominations in its second edition
See links of interest
La Palma volcano
Last News
Holidays 2021
Home THE WORLD TODAY
Podcast Economia
Empoli - Sampdoria
Nice - Monaco
Mallorca - Villarreal
San Marino Grand Prix, live
Brighton and Hove Albion - Leicester City