Amaxabiso ee-indices zehlabathi ngo-Matshi azise isimilo esichaseneyo kwii-fortnights ezimbini ezifanayo. Ngelixa izilungiso zaziphawuleka kakhulu kwiintsuku ezili-16 zokuqala zenyanga, kwiiveki ezimbini zokugqibela baye bafumana inxenye efanelekileyo yohlengahlengiso lwangaphambili. Umzekelo, i-Ibex 35 ulungise umyinge wakho nge-30% kwiintsuku zokuqala ezili-16, kodwa ngalo mhla ukuphinda kuhlaziywe ngaphezulu kwe-11% kwabhalwa kude kube sekupheleni kuka-Matshi, ngokwedatha yakutshanje ebonelelwe nguMbutho waMaziko oTyalo-mali oluHlanganisiweyo kunye neNgxowa-mali yoMhlala-phantsi (Inverco).
Oku kubonisa ukuba nabani na oye wabamba isikhundla kwisiqingatha sokuqala senyanga, esekwe kukuziphatha okungalunganga kwemarike, akunyanzelekanga ukuba athathe ilahleko ngezo ntsuku, kodwa khange akwazi ukuthatha ithuba lokulungiswa kwezi ntsuku zilandelayo, eqinisekisa Isicwangciso esiliqili soTyalo-mali sesona sigxile kwinjongo yethu kwixesha eliphakathi nelide. Imarike yengeniso engaguqukiyo ibhalise nokwehliswa kwexabiso, ngokunyuka kwe-IRR kwityala likarhulumente lexesha elide, ukuya kuthi ga kwi-0,54% ngonyaka. Isibophelelo seminyaka eli-10 saseSpain (ukusuka kwi-0,30% kwinyanga ephelileyo), okanye -0,49% kwityala likarhulumente lexesha elide ukusuka -0,61% kwinyanga ephelileyo.
Kwelinye icala, ipremiyamu yomngcipheko ifikelela kumanqaku esiseko ali-110. Uloyiko lokudodobala koqoqosho kwihlabathi liphela ngenxa yeziphumo zobunzima obubangelwe sisifo secoronavirus kubangele ukungazinzi okugqithileyo kwiimarike zezemali, kuvelisa ukuncipha okubonakalayo kwexabiso kuzo zonke ii-indices. Isibhengezo esenziwe yi-European Central Bank (i-ECB) yenkqubo entsha yokuthenga imeko kaxakeka ngesixa semali 750.000 million kude kube kuphela unyaka, kunye nokuvunywa yi-US yenkqubo ye-US $ 2 trillion yokukhuthaza inkqubo yezoqoqosho.
Ii-asethi zemali: isivuno esikhulu
Enye yeasethi eyimali echaphazeleka kakhulu kwimeko yezemali ngoku yimveliso ephezulu. Ezaziwa ngcono njengezibophelelo ezingenamsoco, ezi ziimveliso zotyalo-mali ezikhutshwa ngamazwe okanye iinkampani ezifumene inqanaba eliphantsi. Iiarhente zovavanyo lomngcipheko kwaye kufuneka zihlawule inzala ephezulu kumtyali mali kuba zithatha umngcipheko omkhulu ngokuzithenga. Ngale ndlela, iiarhente ezinje ngeMigangatho kunye namahlwempu, iiMoody okanye iiFitch, ukubiza abona bameli, zilinganise i- iibhondi zomdibaniso ngokokhuseleko olukhutshwe ngumtyali mali.
Ngayiphi na imeko, isivuno esikhulu okanye iibhondi ze-junk yimveliso ebeka umngcipheko omkhulu kunenye, njengoko kubonakala kule ngxaki yoqoqosho intsha. Kuba inokuqondwa njenge-asethi yezemali inxulunyaniswa nemijikelo yezoqoqosho. Ngengqiqo yokuba banikezela ngeyona nzuzo yabo ingcono kumaxesha okwandisa ezoqoqosho kwaye, ngokuchaseneyo, banesona senzo sabo sibi kakhulu ekuziphatheni okubi, njengaleyo inamava ngokufika kwecoronavirus. Ukungazinzi okubanzi kakhulu kunakwezinye iiklasi zeeasethi zemali.
Izibophelelo zepheripherali
Ngomnye wabaphulukene kakhulu kule ngxaki yezoqoqosho kuba ababaniki ukuzithemba abatyali mali. Njengomzekelo, kwimeko ethile Izibophelelo zaseSpain nezaseNtaliyane ezingayekanga ukuphulukana nenzuzo kwezi veki zidlulileyo. Ukuza kuthi ga kwinqanaba lokuba inxenye elungileyo yabatyali mali abancinci nabaphakathi bazishiyile izikhundla zabo kwezi asethi zemali ngenxa yomngcipheko wokwenyani wokuba bangaqhubeka nokuphulukana noxabiso kwiiveki ezizayo. Njengokuzithemba okuncinci okuvelisa phakathi kweearhente ezahlukeneyo okanye abalamli bezezimali. Ukuba yenye yeemveliso ezimiselwe ukutyala imali kwinto ekufuneka ingekho kwezi ntsuku zikhethekileyo kuwo wonke umntu.
Ngelixa kwelinye icala, ayinakulityalwa ukuba iibhondi zepheriphersi zikho kwinxalenye elungileyo yemali yotyalomali esekwe kwingeniso esisigxina. Nokuba kukodwa okanye njengenxalenye yezinye iiasethi zemali zohlobo olwahlukileyo. Kunye nenyaniso yokuba ithathwa njengotyalomali olujolise kwezona profiles zotyalo mali zizikhuselayo. Kodwa ngeli xesha ayingoyena mlingane ulungileyo wokwenza ukonga kunenzuzo kulo naluphi na uhlobo lwesicwangciso sotyalo mali. Ngelahleko kwiimali zotyalo-mali ngenyanga kaMatshi phakathi kwe-10% kunye ne-13%. Nangona kwelinye icala ibonakalisile ukubuyela umva kancinci kwiintsuku zokuqala zale nyanga ka-Epreli.
Iimarike ezikhulayo
Ngokumalunga nokukhululwa, ezona ndidi zohlwaywa ngo-Matshi zombini yayiziingxowa-mali zengeniso esisigxina kunye iimali zehlabathi (I-1.590 kunye ne-1.417 yezigidi zeerandi ngokwahlukeneyo). Kodwa nangayiphi na imeko, ziimakethi zentengiso ezihlumayo ezinethemba elibi kakhulu kwixesha elifutshane. Kuba baya kusokola ngakumbi kuneemalike ezinkulu ze-equity kwaye banokuvelisa inzuzo eyingozi kakhulu kubo bonke abatyali mali abancinci nabaphakathi. Ngeembuyekezo ezingalunganga ezinokusondela kumanqanaba asondele kakhulu kwi-30% okanye nangamandla aphezulu. Ngokukodwa, ngenxa yokuthandabuza okubangelwe kula mazwe ngetyala abaye baliqokelela iminyaka eliqela. Kwimeko engathandekiyo ngokuziphatha kwabo kwiimarike zezabelo.
Kwelinye icala, iimarike ezihlumayo azizukungena kwizikhundla zazo kuba kunjalo amathuba amakhulu okulahlekelwa yimali kunoba uphumelele. Ke ngoko, umngcipheko ongeyomfuneko awunakuthathwa kuba ekugqibeleni iziphumo zinokuba mbi kakhulu kusapho lwethu okanye kwimidla yobuqu. Zimbalwa kakhulu iimarike zezi mpawu zichasene nentengiso ekhohlakeleyo esiye sahlupheka ukusukela ngeentsuku zokuqala zika Matshi. Oku kubonakalisa ukuba icandelo elilungileyo labatyali mali abancinci nabaphakathi kufuneka baqwalasele ukusukela ngoku. Okokuqala, ukugcina imali yakho ngaphezulu kwezinye iindlela ezinobundlongondlongo.
Ioyile ilawulwa kukungazinzi
Isenokuba yenye ye amaxabiso okusabela Ukugqwesa, kodwa enyanisweni khange kubenjalo. Ukuba akunjalo, ngokuchaseneyo, ibiyinxalenye yengxaki njengoko ixabiso layo kwiimarike zezemali lehle laya kumanqanaba anobungozi angama-20 eedola zaseMelika ngomgqomo. Ngokwalo mbono, yingxaki enkulu kunesisombululo kwiingxaki zethu zotyalo-mali kwezi ntsuku zinzima siziziselwe kulo nyaka mtsha. Yinto efanelekileyo ukuba isebenze kwezorhwebo ngenxa yokwahluka okukhulu phakathi kwamaxabiso aphezulu kunye neyona isezantsi kwaye ikuvumela ukuba ukwandise ukusebenza ngokukuko ukuba unokufunda kolu hlobo lokuhamba kwiimarike zezemali.
Kwelinye icala, awungekhe ulibale ukuba bekukho isivumelwano phakathi kweRussia ne-Saudi Arabia esivumela ukonyusa imveliso yale nto eluhlaza ukusukela ngoku. Kwaye oko ke, kwaye ngokufanelekileyo, kuyakwenza ukuba ixabiso lomgqomo liphume kakhulu. Ngapha koko, sele ikumanqanaba eedola ezingama-30 ngombhobho kwaye sinethemba lokuba inokwenza njalo kwezi ntsuku zinzima zokurhweba. Kwimeko entsha eza kutsala umdla wenxalenye elungileyo yabatyali mali abancinci nabaphakathi abanamathandabuzo amaninzi malunga nento ekufuneka beyenzile kwezi ntsuku. Kumanqanaba afanayo ezinye ii-asethi eziyimali, njengokuthenga kunye nokuthengisa izabelo kwimarike yemasheya okanye kwiimali zotyalo-mali zalo naluphi na uhlobo kunye nemeko. Oko kukuthi, ngemikhwa emitsha ngokupheleleyo kubasebenzisi belizwe lethu.
Imilinganiselo yecandelo lobuchwepheshe
Kukho inyani etsala ingqalelo ekhethekileyo kubatyali mali abancinci nabaphakathi kwaye okwangoku iNasdaq yehle nge-7% kuphela ukusukela kwiintsuku zokuqala zonyaka. Ukuziqhelanisa kuthetha ukuba izitokhwe zetekhnoloji azenzi kakubi kwiimarike zemali. Ukuba akunjalo, ngokuchaseneyo, kwaye ngendlela ethile, basebenza njengendawo ezikhuselekileyo kule meko intsha yokuba iimarike zezabelo zibonisa kwihlabathi liphela. Abanye babo bakwinqanaba elifanelekileyo kwaye ivulela nakwimigangatho yokurhweba yelizwekazi elidala kwaye ngoku kungumbandela wokuhamba kwemali.
Ngelixa lokugqibela, kufanele ukuba kuqatshelwe ukuba amaxabiso ecandelo lobuchwephesha lelinye lawona macandelo athe amelana ngoku nokwehla okubalulekileyo kwimarike yemasheya. Ngamaxesha onke ngaphezulu kweyona indices zesiko kwiimarike zamasheya zamanye amazwe. Kwaye nakweyiphi na imeko, iyangqina into yokuba ayizizo zonke iindaba ezimbi eziza kuba ziindaba ezimbi zeasethi yezemali ngexesha lesiphithiphithi esasazekileyo. Ukuba akunjalo, ngokuchaseneyo, isikhundla sinokuthathwa ukuze sifumane ngokukhawuleza kwezi seshoni zorhwebo. Nangona imida yenzuzo engaphakamanga njengakwamanye amaxesha aqhelekileyo, de kube kwenzeke esi sehlo singalindelwanga. Ngotshintsho olubalulekileyo kwimikhwa yethu yotyalo-mali.
Ukusebenza kwimarike yaseSpain
Ngama-59,9% ngaphezulu kunakwinyanga enye njengonyaka ophelileyo nama-46,4% ngaphezulu kunangoFebruwari
Inani lezorhwebo lilingana ne-7,61 yezigidi ngo-Matshi, emele ukonyuka konyaka-nge-142,3%. Ngelixa kwelinye icala, umthamo othengisiweyo kwiRhafu yeNgeniso ebhalisiweyo ubhalisa ukukhula kwama-26,1% ngenyanga. Apho iikhontrakthi zexesha elizayo ezingama-12 ze-IBEX 77.763 zathengiswa ngoMatshi 35, irekhodi lemihla ngemihla, ngaphandle kweeveki zokuphelelwa lixesha.
Kwelinye icala, iSpanish Stock Exchange ithengise i-55.468 yezigidi zeerandi kwi-Variable Income ngo-Matshi, i-59,9% ngaphezulu kwenyanga enye yonyaka ophelileyo kunye ne-46,4% ngaphezulu kunangoFebruwari. Inani lothethathethwano ngoMatshi yayizizigidi ezingama-7,61, i-142,3% ngaphezulu kunango-Matshi 2019 kunye nama-82,9% ngaphezulu kwenyanga ephelileyo. Ngo-Matshi, i-BME ifikelele kwisabelo sentengiso kurhwebo lwezokhuseleko lwaseSpain lwama-72,39%. Uluhlu olumndilili ngo-Matshi yayili-14,96 yamanqaku esiseko kwinqanaba lokuqala lexabiso (i-16% ibhetele kunendawo yokurhweba elandelayo) kunye ne-21,43 yamanqaku esiseko kunye nobunzulu be-25.000 ye-euro kwincwadi yoku-odola (26,1, XNUMX% ngcono), ngokwe-Independent Ingxelo yeLiquidMetrix. La manani aquka urhwebo oluqhutywa kumaziko orhwebo, kokubini kwincwadi yoku-odola ebonakalayo (i-LIT), kubandakanya ifandesi, kunye norhwebo olungabonakali (mnyama) olwenziwe ngaphandle kwencwadi.
Utyalomali kumvuzo osisigxina
Umthamo opheleleyo ongene kwi-Fixed Income yi-31.313 yezigidi ze-euro ngo-Matshi, emele ukukhula kwe-26,1% xa kuthelekiswa noFebruwari. Ukwamkelwa kurhwebo, kubandakanya nemicimbi yeTyala loLuntu kunye neNgeniso eLungisiweyo yaBucala, ifikelele kwi-42.626 yezigidi zeerandi, ngokukhula kwe-19,5% xa kuthelekiswa kwinyanga enye ka-2019 kunye ne-83,7% xa kuthelekiswa noFebruwari walo nyaka. Ibhalansi engekahlawulwa ime kwi-1,59 yezigidi zeerandi, oko kuthetha ukuba inyuke nge-0,9% xa kuthelekiswa noMatshi 2019 kunye ne-2% kwingqokelela yonyaka.
Ngexesha lenyanga yoKwindla urhwebo kwimarike yeZibonelelo zeMali luqhubekile nokukhula. Ngokukodwa kwi-Index Futures, ngenyanga ephawulwe ngokunyuka kokungazinzi. Ngo-Matshi 12, 77.763 IBEX 35 PLUS izivumelwano zexesha elizayo zathengiswa, irekhodi lemihla ngemihla, ngaphandle kweeveki zokuphelelwa lixesha. Umthamo wexesha elizayo kwi-IBEX 35 unyuke nge-74,6% nakwi-Futures Mini IBEX ngama-200,8% xa kuthelekiswa nenyanga kaMatshi wonyaka ophelileyo. Kukhetho lweSitokhwe, uMatshi yayiyinyanga yesithathu elandelelanayo yokukhula ngokuthelekiswa nexesha elifanayo kwi-2019, ngokunyuka kwama-60,4%. Ngelixa kwelinye icala, imisebenzi kwi-BME yeDerivatives Market ibhalise ukukhula konyaka nonyaka nge-17,8%.
Ikhontrakthi yeebhondi ezinzileyo
I-BME, ngeBilbao Stock Exchange, iyavuma namhlanje kuthethathethwano malunga nomba omtsha weebhondi ezinzileyo ezisungulwe nguRhulumente waseBasque ngesixa semali engama-500 ezigidi zeerandi. Iibhondi zinexesha leminyaka eli-10 (ukukhula kwabo kokugqibela kucwangciselwe u-Epreli 30, 2030) kwaye baya kufumana isigqebhezana sonyaka esiyi-0,85%. Oku kukukhutshwa kwesithathu kweebhondi ezinxulunyaniswe nezinto zokusiNgqongileyo, ezeNtlalo okanye zoLawulo (ESG) ezenziwa nguRhulumente wase-Basque, onani lazo lifikelela kwi-1.600 yezigidi zeerandi. I-BBVA, iSantander, iCaixabank, iNatixis kunye neNomura bathathe inxaxheba ekubekweni komcimbi.
Urhulumente waseBasque unenqanaba le-A3, umbono ozinzileyo, kaMoody's; A +, umbono oqinisekileyo, nge-S & P; kunye neAA-, umbono ozinzileyo, nguFitch. Usasazo luphuhliswa ngokwesikhokelo seZizwe eziManyeneyo zoPhuhliso oluZinzileyo (SDG). Iindidi eziza kuxhaswa ngemali ziyahambelana ne-83% kwiinkqubo zentlalo kwaye kwi-17% kwiinkqubo zokusingqongileyo. Phakathi kwezinye izinto, imimandla kunye nemigaqo-nkqubo yokusebenza yesakhelo sokukhupha uzinzo kuRhulumente wase-Basque: izindlu ezifikelelekayo, ukufikelela kwiinkonzo ezibalulekileyo ezinje ngemfundo kunye nempilo, imigaqo-nkqubo yezentlalo, ukudalwa kwemisebenzi, amandla ahlaziyekayo, uthutho oluzinzileyo, ukuthintela kunye nolawulo longcoliseko indalo esingqongileyo kunye nolawulo oluzinzileyo lwamanzi namanzi amdaka. Lo mbandela weebhondi ezinzileyo nguRhulumente waseBasque ukongeza kuleyo yenziwa ngoFebruwari ophelileyo luLuntu oluZimeleyo lwaseMadrid.
Ixabiso lokuthabatha kwimarike yaseSpain
Ngelixa lokugqibela, kufanele ukuba kuqatshelwe ukuba iBhodi yaBalawuli ye-BME namhlanje ivume ingxelo enyanzelekileyo kwi-Offer yoLuntu yokuFumana izabelo ezisungulwe yi-SIX nge-100% yenkunzi yenkampani. Umsebenzi ufumene isigunyaziso esivela kwiBhunga laBaphathiswa nge-Matshi 24 kunye ne-CNMV egunyazisa incwadana yolwazi malunga nesicelo sokuthatha nge-25 ka-Matshi.
IBhodi yabaLawuli be-BME, ngamxhelo-mnye, ikhuphe uluvo oluhle kwi-OPA kwingxelo leyo. IBhunga "lixabisile ngokuqinisekileyo ixabiso lesithembiso" kwaye lijonga ukuba "izibophelelo ezifunyaniswe yiSITHATHU kunye neemeko kunye nezilumkiso ezimiselwe ngokugunyaziswa liBhunga labaPhathiswa, lilonke, lanele ukukhusela uphuhliso olwaneleyo iimarike zasesekondari ezisemthethweni kunye neenkqubo zaseSpain ekubhekiswa kuzo ukuzibophelela ”.
Ngokudityaniswa kwezi nkampani zintathu, kumiselwe icandelo lokuHluma le-EpM, elijolise kwiinkampani ezinomkhondo obanzi kuwo onke amacandelo.
Amaqabane amabini amatsha kule nkqubo ye-BME yi-Southern Spain Business Association, i-CESUR, efuna ukuphucula iimeko zeshishini, ezoqoqosho nezentlalo emazantsi eSpain, kunye nabacebisi bezeMali be-AtZ, ivenkile ecebisa ngezemali ekhethekileyo kwiiprojekthi zamandla ezivuselelwa eSpain naseLatam, ukufumana ityala kunye nokulingana kwezemali, ukulungiswa kweprojekthi kunye nokusebenza kwe-M & A.
Umnxeba weNdawo yokuThengisa ngaphambi kweNtengiso ukuba ufumane iinkampani ezintsha uvulelekile kubandakanywa. Ukufikelela kule nkqubo, iinkampani kufuneka zidibane kunye okanye zibe neenkampani ezinomda, ubuncinci beminyaka emi-2, zibonise iiakhawunti zonyaka eziphicothiweyo kwaye zibonelele ngesicwangciso seshishini iminyaka emi-3.
"Ukusukela oko yaqalwa ngo-2017, i-Pre-Market Environment ayiyekanga ukukhula kwaye izalisekisa iinjongo zayo zokunceda iinkampani zilungiselele ukwenza ukutsiba kwintengiso yesitokhwe kunye negalelo kukwahlukahlukana okukhulu kwimithombo yezemali yelaphu leshishini. ISpanish" , ucacisa uJesús González Nieto, umlawuli olawulayo we-MAB.