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Strong falls in Sabadell, Telefónica, Santander and Ferrovial due to their exposure to the UK


Heavy drops in Sabadell, Telefónica, Santander and Ferrovial for their exposure to UK, after the discovery of a new strain of coronavirus has caused the country's blockade with the Old Continent.

The actions of Sabadell down 7%, while Santander yields 5% and Telephone and Ferrovial fall 4%. To these losses are added those of other securities affected by the news, such as IAG, Meliá and Amadeus, in addition to Aena and Repsol. Sales are causing the Ibex 35 crash, which sinks more than 4%, to 7,700 points.

In the case of Santander, "the tick has stopped at the gates of the significant resistance it presents in the March weekly bearish gap", argues Jose Maria Rodriguez, an expert from Bolsamanía. "In the shortest term, we have to look at the supports it presents at 2.39-2.40 euros, and below it we have the upward gap of 2.28 and 2 euros (adjustment of 61.8% of the last bullish momentum), "he adds.

For its part, Sabadell recently announced its intention to sell its British subsidiary, TSB, after breaking up negotiations to join BBVA. And any negative news coming from the UK makes it difficult to sell this division, to which analysts assign a low market value.

IAG, the parent airline of Iberia, British Airways, Vueling and Aer Lingus, is one of the values ​​most sensitive to any news about the United Kingdom, its main market. The new restrictions on flights in this market are another 'tip' to one of the companies hardest hit by the pandemic.

Likewise, hotel companies Meliá and NH fall hard this Monday because their exposure to the British market It is very relevant, both for its business in the country and for the flow of British tourists to its Spanish hotels, which will recover even later after these new blockades.

In a similar way, the actions of the airport manager Aena suffer heavy falls. The company, in addition to registering fewer passengers in Spain, manages the British Lutton Airport, which is an important source of income for its international division.

Further, Ferrovial manages Gatwick airport, the most important in London and the United Kingdom, which has been greatly affected by the blockade imposed by many countries to try to contain the new strain of the virus.

And finally, Telephone is another of the largest Ibex companies with interests in the United Kingdom, since it controls one of the main telecommunications operators, O2, which is currently in full process of merger with Virgin, the subsidiary of Liberty Global in the English market.

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