Spanish stock market feels the pinch from Greek crisis
Wednesday, July 1, 2015 @ 1:30 PM
STOCK markets were only slightly affected today as a result of the 'Greek crisis' – in Spain, the IBEX-35 fell by just 0.4%.
This is an improvement on Monday morning, when financial markets crashed – the IBEX-35 was down 4.56%, its worst fall since August 2012.
It closed on Monday with a loss of 10,853.9 points and a significant drop in share value for Spain's largest companies.
Banco Santander took the greatest blow with its shares dropping 6.7%, whilst BBVA bank fell by 6.02%, REPSOL by 4.23%, Inditex by 4.2%, Iberdrola by 3.87% and Telefónica by 3.86%.
With Greece having shut its banks and restricting withdrawals to €60 a day, cashpoints already empty and residents panic-buying food and petrol, the rest of Europe's financial markets suffered on Monday with Lisbon and Milan down by over 5%, Frankfurt and Paris by over 3% and London's FTSE-100 by nearly 2%.
Read more at thinkSPAIN.com