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Date Published: 01/12/2021
ARCHIVED - IBEX plummets after Omicron, leaving November the worst month since pandemic began
The Spanish stock market rose again on the first day of December, but things couldn’t get much worse after November
The main indicator of the Spanish stock market, the IBEX 35, made gains of 0.78% as it opened on the first day of December, boosted by Inditex, the oil company Repsol and tourism-related securities.
However, this comes after closing November with a fall of more than 8%, in what has been the worst month for the IBEX since the pandemic hit Spain in March 2020.
Part of this was attributable to the new Omicron strain of coronavirus, which led the stock market to plunge by more than 3.5% last Friday, November 26.
The banking and tourism sectors were the stocks with the biggest losses, as well as Repsol, the airline IAG and the airport management company Aena, some of which are now bouncing back. Overall, stock market profits in Spain for the year 2021 have risen 3.6%.
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