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Repsol falls hard and is dragged by the oil crash


Repsol (-5%) It is the worst value of the Ibex 35 this Tuesday. The Spanish oil company falls sharply after being again dragged by the oil crash, especially West Texas. The benchmark barrel in the US closed negative on Monday for the first time in its history. Brent, a benchmark in Europe, is not spared either and seems willing to follow the same path but with more moderate falls.

The oil debacle has left two major reactions in the past few hours. On the one hand, Repsol's. The Spanish listed company has parked its strategic plan for the period between 2020 and 2025 that it was due to present this May, as this medium points out.

Instead, he advanced a 2020 resilience plan underpinned by a hypothetical Brent at $ 35, figure that now seems very distant. It should be recalled that the oil company has guaranteed its dividend by confirming that, for the month of July, a shareholder remuneration of 0.55 euros per share is planned under the formula of "scrip dividend".

The other great reaction around value has been the star Citadel this Monday. The manager founded by the American magnate Kenneth Griffin, A 1.021% stake in Repsol has emerged, making it the fourth largest shareholder in the Spanish oil company.

As recorded in the records of the National Securities Market Commission (CNMV), Citadel declared at the end of last week that it had exceeded 1% of Repsol's capital. Thus, the fund has a package of 15,988 million shares of the company, which at current market prices is worth around 120 million euros.

. (tagsToTranslate) Repsol (t) force (t) dragged (t) crash (t) oil (t) Category: All (t) Category: Market Report (t) Category: Company News (t) Category: Pulses (t) Category: Market Pulse (t) Category: Sectorial: Energy Minerals

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