Kubekho iinkampani ezimbini ezigqithe kulindelo kwiziphumo zeshishini labo kwikota yokuqala yonyaka kumaxesha anzima kakhulu ngenxa yeziphumo zolwandiso lwe-coronavirus. Ezi nkampani zidwelisiweyo yi-Endesa kunye neRepsol, eziphucule iziphumo zayo xa kuthelekiswa nezinye iinkampani ezenza isalathiso sezabelo zamashishini alinganayo elizweni lethu. Umzekelo, Inditex kwaye ngokubanzi zonke iibhanki ezirekhodile ukwehla kweziphumo zazo kwaye oko kuyimbonakalo yeziphumo ezibi zale ntsholongwane kwicandelo lezoqoqosho nezoshishino lelizwe lethu.
Iziphumo ezifikelelweyo, zombini ngu-Endesa noRepsol, bakhonze ukuqinisekisa ukuba izabelo zabo zixabisile kwiimarike zezemali ngendlela ebukhali. Kunye Ukuxabisa nge-4% kunye ne-13% kumaxabiso abo okuqala ngokungena kwabatyali mali abancinci abancinci naphakathi ngenjongo yokwenza ukuba imali abayigcinayo ibe nenzuzo ngamanye amaxesha anzima kakhulu otyalo mali kwimarike yemasheya. Kule meko, inokuba ngamaxabiso amabini enza ngcono kunabanye ukusukela ngoku ngenxa yokuthembela kwabo abakwenzileyo phakathi kweearhente ezahlukeneyo zezemali. Kwaye okubaluleke ngakumbi, ngexesha apho i-coronavirus ibangele ukuhla okukhohlakeleyo kwiMveliso yaseKhaya ePheleleyo (i-GDP) yelizwe lethu.
Ngelixa kwelinye icala, ayinakulityalwa ukuba kuzo zombini ezi meko kuye kwakho ukuphucuka okubonakalayo kwinkalo yobuchwephesha. Ngokunyuka okuya phezulu malunga nexesha elide kwaye ke ngoko mema ukungena okutsha kokuhamba kwemali ukuba kwenzeke ukususela ngoku ukuya phambili. Ukubetha kakhulu kwimeko yenkampani yeoyile xa ixabiso le-crude likwindawo esezantsi ngokuthengisa ngaphantsi kwe $ 20 umphanda ngamnye. Emva kokuwa kweerhafu zabo emva kokunyuka kwemveliso yabo kwiiveki ezidlulileyo kwaye oko kukhokelele ekungaqiniseki kuzo zonke iimarike zezemali zehlabathi. Ukuhambelana nokudodobala kwezoqoqosho kuwo onke amazwe oqoqosho lwehlabathi, apho ukwehla kuyinyani.
I-Endesa kunye neRepsol zigqithile kulindelo
Kuzo zombini iimeko, eyona nto ibalulekileyo malunga neziphumo zeshishini labo kukuba bebengaphezulu koqikelelo lweengcali. Kwaye ke, kuye kwabothusa kakhulu abatyali zimali abancinci nabaphakathi abafumene amaxabiso abanokuthi benze njengendawo yokusabela kwezi meko zangoku. Ngenxa yale meko, akukho ngqiqweni ukuba ezi zindululo kwimarike yemasheya zinokuhlaziywa kwiinyanga ezizayo zekota yesibini. Ukonakalisa, umzekelo, kweebhanki, ezikwimeko ye- ukuwa mahala kwaye azilungelanga kwaphela izikhundla zokuvula kwiimarike zamashishini ezingenanzala emisiweyo. Kwinguqu kubuchule babasebenzisi ngokubhekisele kwiipotifoliyo zabo zotyalo-mali ukwenza ukuba imali yabo ekhoyo ibenenzuzo.
Kwelinye icala, kufanelekile ukuqaqambisa into yokuba la maxabiso mabini esitokhwe abone ukuncipha kokuwa ababekuqokelele ukusukela kwiiveki zokuqala zika-Matshi. Ukusuka apho behlise khona kuwo omabini amatyala kwinqanaba elingaphezulu kwe-30% Kwaye ngandlela thile incedwe yinto yokuba i-European Central Bank (i-ECB) iphinde yabonisa ukuba izimisele ukunceda uqoqosho lwamazwe achaphazeleke kakhulu kukwandiswa kwe-coronavirus. Apho iRepsol yenye yezona zichaphazeleke kakhulu kuqikelelo lwamaxabiso kwimarike yemasheya, ehamba kwisithuba esifutshane kakhulu sexesha ukusuka kwi-12 euro ukuya kwi-7 euro. Ngokusikwa phantse kwesiqingatha kwixabiso layo lokuqala.
I-repsol, ukwehla kwe-27%
Kwikota yokuqala yowama-2020, i-Repsol iphumelele iziphumo ezilungisiweyo ezingama-447 ezigidi, ezimele a Ukuhla kwe-27,7% xa kuthelekiswa nezigidi ezingama-618 zexesha elifanayo kunyaka ophelileyo. Esi siphumo, esilinganisa ngokuthe ngqo indlela yokuziphatha kwamashishini enkampani, safunyanwa kwimeko yokuntsonkotha okukhethekileyo, ephawulwe ukwehla okubukhali kumaxabiso eoyile kunye negesi, kunye nokwehla okukhulu kwemfuno ebangelwe yi-COVID-19 XNUMX. I-Repsol igcine izibonelelo zayo zisebenza kwaye yadlala indima ebalulekileyo kwinkonzo yoluntu kwingxaki yezempilo yehlabathi.
Kwelinye icala, imodeli edibeneyo yeshishini, kunye nokuguquguquka kwayo kunye nokomelela, zazibalulekile kumashishini ayo ukuze afezekise iziphumo eziqinisekileyo kule meko imbi kakhulu. Ixabiso eliphakathi le-Brent kunye ne-WTI i-oyile ekrwada yehle nge-21% kunye ne-17%, ngokwahlukeneyo, xa kuthelekiswa neenyanga ezintathu zokuqala zika-2019. Ekupheleni kwekota, iBrent yayithengisa ngaphantsi kwe- $ 20 umphanda. Kwimeko yegesi, ukuhla kuye kwenzeka ngokukhawuleza okukhulu, ukuwa kuphakathi kwe-36% kwimeko yeHenry Hub, kunye ne-56% kwiAlgonquin.
Uphuculo kwisahlulelo sakho
Ngayiphi na imeko, inkampani yesizwe yeoyile yesalathiso ngoku iphumelele ukuba amandla ayo okuhlaziya anomdla ngakumbi kuneenyanga nje ezimbalwa ezidlulileyo. Ngelixa ngokuchaseneyo, inyuse inzuzo yesahlulo sayo ngamanqaku eepesenti ezimbalwa. Kuzo zonke iimeko, lolunye ukhuseleko olunika inzala enamandla ngakumbi kubatyali mali abancinci nabaphakathi. Njengenkuthazo eyongezelelweyo ukuze izabelo zabo zinokuqeshwa ngabatyali mali abancinci nabaphakathi. Ngomsebenzi osondele kakhulu Amanqanaba angama-9%, ngaphezulu lee kwezinye izindululo kwiimarike zezabelo kweli lethu.
Kwelinye icala, ayinakulityalwa ukuba le nkampani ichaphazeleke kakhulu kukuhla okuphezulu kwixabiso leoyile ekrwada. Ukuya kwinqanaba lokuba lo mbandela ufikelele kumanqanaba angaphantsi kwesithintelo se- $ 20 ngomgqomo. Kule meko, ishishini likaRepsol linokuchaphazeleka kakubi kwikota ezizayo ngenxa yale meko inzima efunyanwa yile asethi yezemali. Apho kukho abahlalutyi abambalwa abakholelwa ukuba amaxabiso amadala aya kuthatha ixesha elide ukundwendwelwa kwaye oku kungakhokelela ekubeni iRapsol ibe nobunzima ngakumbi ukophula isithintelo se-euro ezingama-10 ngesabelo ngasinye, ubuncinci ngokubhekisele kwelona xesha lifutshane.
Endesa ngezibonelelo
U-Endesa uvale ikota yokuqala ye-2020 ngeziphumo ezilungileyo ngenxa yolawulo lweemarike ezikhululekileyo, ukongezwa kozinzo kwimakethi elawulwayo. Ezi ziphumo zihle zibonisa impembelelo yokuqalisa kokusebenza kwesiVumelwano esiDibeneyo kunye nokurekhodwa kwezibonelelo ezithile zohlengahlengiso lwabasebenzi, eziye zanefuthe elihle le-267 yezigidi zeerandi kwisiphumo. Ukunyuka kwinzuzo epheleleyo, ngaphandle kweziphumo ezingaqhelekanga, kube ngama-59%.
Ipeninsular eqokelelweyo yemfuno yombane yehle nge-3,2% xa kuthelekiswa kwangexesha elifanayo kwi-2019 (-2,8% emva kokulungisa iziphumo zomsebenzi kunye nobushushu). KwiiNdawo eziNgekho Peninsula (i-TNP), ukwehla kube yi-5% kwiiBalearic Islands kunye ne-1,4% kwiiCanary Islands (-3,2% kunye -1%, ngokwahlukeneyo, emva kokulungisa iziphumo zomsebenzi kunye nobushushu).
Ewe esLe meko iye yenziwa mandundu sisibhengezo sesimo se-alamu, esinciphise ibango kakhulu kwisiqingatha sesibini sika-Matshi. Ngayiphi na imeko, isiphumo esibangelwe ngubhubhane khange sibe nefuthe elibonakalayo kwiziphumo zekota yokuqala. Ikota yokuqala yowama-2020 ibonakaliswe ngamaxabiso asezantsi kurhwebo lombane wewholesale (~ 35 euros nge-MWh, -37%) njengesiphumo, ikakhulu, sokuhla kwemfuno, ukuthatha inxaxheba okukhulu kwamandla ahlaziyekayo, ukunciphisa Ixabiso lekharbhon diokside (CO2) ngamalungelo okuphuma kunye nokuvela kwamaxabiso ezinto eluhlaza.
Ngale ndlela, i-CEO ye-Endesa, uJosé Bogas, uphawule ukuba “Iziphumo ezilungileyo ze-Endesa kwikota yokuqala ziya kusinceda ukuba sijongane neziqinisekiso zempembelelo ye-COVID-19 kwikota yesibini. Inkampani sele iwuqalisile wonke umsebenzi wolwakhiwo lweepaki ezihlaziyekayo, kwaye sizinikele ngokupheleleyo kutyalo-mali oluchazwe kwangaphambili kwisicwangciso sethu sobuchule. Sikwasifunda nokuba kungenzeka sikhawuleziswe esi sicwangciso, ngakumbi kumoya nakwizityalo zelanga, ukuze sincede ekuvuseleleni uqoqosho ngokudala imisebenzi kunye nokuvelisa ubutyebi ”.
Utyala njani imali eSpain
ISpeyin luqoqosho lwe-13 kwihlabathi liphela ngemveliso yayo yasekhaya (GDP) kunye ne-15 yenqanaba lokuthenga ngamandla (PPP). Nangona uqoqosho luye lwacinezeleka ngokunzulu ngexesha lobunzima bezezimali ngo-2008, oko kuye kwaba yenye yezoqoqosho olukhula ngokukhawuleza eYurophu. Abatyalomali bamanye amazwe bavuselele umdla wabo kweli lizwe njengoko uqoqosho lwalo luqhubeka ukukhula ngamandla ngokuhamba kwexesha.
Uqoqosho lokhuphiswano. Uqoqosho lwaseSpain lujolise ikakhulu kwiinkonzo (71%), kumzi mveliso (14%) nakulwakhiwo (10%), kunye nokukhula koqoqosho okusuka kwezolimo namandla. Ngaphakathi kwala macandelo, ilizwe likhaya kwiinkampani ezininzi ezinkulu zamazwe ngamazwe, kubandakanya umbane ophehlelayo u-Iberdrola kunye neenkampani zonxibelelwano ezinje ngeTelefonica neMovistar.
Ingxelo yoKhuphiswano lweHlabathi ka-2018 idwelise uqoqosho lwaseSpain njengolwama-26 oluphuculwe kakhulu kwiziseko zophuhliso kwihlabathi. Ezi zikhundla zibeka phambi koqoqosho oluphucukileyo njenge China, Itali ne Portugal, nenkqubo yabo yoololiwe abakhawulezayo kunye nezixhobo zophuhliso.
Tyala imali eSpain nge-ETFs
Eyona ndlela ilula yokutyala imali eSpain kukusebenzisa ii-ETFs zamanye amazwe, ezibonelela ngokwahluka kwangoko kukhuseleko olunye oluthengiswa eUnited States. Ngokufumana iipotifoliyo ezahlukeneyo zeenkampani ezithatha amacandelo amaninzi, abatyali mali akufuneki bakhathazeke kakhulu malunga nomngcipheko woxinaniso okanye ukuthenga nokuthengisa iphothifoliyo yesitokhwe ngasinye. Urhwebo-ngaphandle kukuba ezi mali zibiza umyinge weendleko eziphantsi, ezinokuthi zinciphise ukubuya ngokubanzi ngokuhamba kwexesha.
Ii-ETFs ezine ezidumileyo zaseSpain zibandakanya:
- iShares MSCI eSpain iCaps ETF (EWP)
- IShares yeMali eHedged MSCI yaseSpain ETF (HEWP)
- I-SPDR MSCI Spain Umgangatho wokuDibanisa i-ETF (QESP)
- I-Deutsche X-Trackers i-MSCI yase-Spain i-Hedged Equity ETF (i-DBSP)
Zininzi izinto ezinokuthi ziqwalaselwe ngabatyali zimali bamanye amazwe ngaphambi kokutyala imali kwezi ETFs. Ngokubanzi, abatyali mali kufuneka bajonge ii-ETFs ngexabiso eliphantsi kakhulu lokucinga ukuba yonke enye into ilingana nokwandisa imbuyekezo. Kwakhona kubalulekile ukuba abatyali-mali baqwalasele ingozi yokugxila kwipotifoliyo kunye ne-ETF ezijolise kumacandelo athile oqoqosho kunye nobungozi bezemali ezinxulumene ne-ETF ezingabonakaliyo.
Tyala imali eSpain nge-ADRs
Iirisithi zedipozithi zaseMelika-okanye ii-ADRs-yenye indlela elula yokutyala imali eSpain ngaphandle kokuvula iakhawunti yomrhwebi phesheya. Olu khuseleko lubotshelelwe ngqo kwibhasikithi yamasheya angaphandle kwaye athengiswa kwi-stock exchange yase-US, oko kuthetha ukuba abatyali-mali akufuneki bakhathazeke malunga nefuthe lerhafu yeenzuzo zorhwebo lwangaphandle. Uninzi lwezi mali luyathengiswa notshintshiselwano lwesizwe olufana neNew York Stock Exchange enokuba nolwelo olungaphezulu kolwananiselwano lwe-OTC.
Ii-ADR ezidumileyo zaseSpain zibandakanya:
- Ibhanki yaseSantander (SAN)
- I-Telefónica (TEF)
- I-Abengoa (ABGB)
- IBanco Bilbao Vizcaya Argentaria (BBVA)
- IiGrifols (GRFS)
Kwakhona, zininzi izinto ezinokuthi abatyali zimali bamanye amazwe baqwalasele ngononophelo ngaphambi kokuthenga ii-ADR. Eyona nto ibaluleke kakhulu ihlala ilulwelo, ngakumbi kwimeko yee-ADR ezithengiswa kwiimarike ze-OTC. Kuba isitokhwe samanye amazwe sithande ukuba nabalandeli abambalwa basekhaya, uninzi lwee-ADR zurhweba kakhulu izabelo ezimbalwa ngosuku ngalunye kunestokhwe sasekhaya, esinokuthi senze ingozi xa umtyali mali ezama ukuthenga okanye ukuthengisa ngamaxabiso afanelekileyo.
Iziphumo zokugqibela
ISpain iye yaba yindawo yokutyala mali ethandwayo njengoko uqoqosho lwayo luqhubeka ukubuyela kwimeko yezemali ka-2008. Njengenye yezoqoqosho olukhula ngokukhawuleza e-Europe ngo-2015, abatyali-mali bamanye amazwe banokufuna ukujonga ngakumbi ezoqoqosho ezazike zachaphazeleka. Ii-ETFs zaseSpain kunye nee-ADR zezona ndlela zimbini zilula zokutyala imali kweli lizwe ngaphandle kokujongana nobunzima bokuvula iakhawunti yomrhwebi phesheya kunye nokuhlawula irhafu. Ngezi ngcebiso engqondweni, abatyali mali bamanye amazwe banokubandakanya ukubhengeza oku kuqoqosho oluthembisayo kwiiphothifoliyo zabo.
Utyalo-mali kwisitena
Ixabiso lezindlu zaseSpain lenyuke nge-4,68% enyakeni de kwaba yikota yesithathu ka-2019 (4,36% ehlengahlengiswe ukunyuka kwamaxabiso), oko kubonisa ukwehla xa kuthelekiswa nokukhula kwe-7,16% kunyaka ophelileyo kunye nesantya esincinci kunekota yesine ka-2016 , ngokweZiko leLizwe lezibalo (i-INE). Kwikota nganye, amaxabiso ezindlu enyuke nge-1.58% kwikota yesithathu ka-2019 (i-2.26% ilungelelaniselwe ukunyuka kwamaxabiso).
Ngohlobo lwepropathi:
Amakhaya akhoyo: Amaxabiso anyuke nge-4.41% enyakeni ukuya kwikota yesithathu ka-2019 (i-4.08% ilungelelaniselwe ukunyuka kwamaxabiso), ukukhula okucothayo kwiminyaka emithathu.
Amakhaya amatsha: amaxabiso anyukile nge-6.64% unyaka nonyaka kwikota yesithathu ye-2019 (i-6.31% ilungelelaniselwe ukunyuka kwamaxabiso), emva kokunyuka konyaka kwe-7.17% kwikota yesibini ye-2019, i-10.35% kwikota yokuqala ka-2019, 8.03 % kwikota yesine ka-2018 kunye ne-6.13% kwikota yesithathu ka-2018.
I-Bhanki yaseSpain inika ingxelo yokunyuka okuphantsi kumaxabiso ezindlu. Ngexesha lonyaka ukuya kwikota yesithathu yowama-2019, amaxabiso ezindlu kwilizwe liphela anyuke nge-3,07% (2,75% ehlengahlengisiweyo yokunyuka kwamaxabiso). Kwikota nganye, amaxabiso ezindlu anyuke nge-miniscule eyi-0,05% kwikota yesithathu yowama-2019 (0,73% ilungelelaniselwe ukunyuka kwamaxabiso).
Emva kweminyaka esixhenxe yokuhla kwamaxabiso ezindlu, intengiso yezindlu yaseSpain iphinde yakhula ngo-2015. Amaxabiso ezindlu zaseSpain ehle nge-36,3% (-42,9% ehlengahlengiswe ukunyuka kwamaxabiso) ukusuka kwikota yesithathu ka-2007 ukuya kwikota yokuqala yowama-2015. , kwaye amaxabiso asele ekhona ekhaya ehle kangange-43,1% (-49% ehlengahlengiswe ukunyuka kwamaxabiso), ngokwamanani e-INE. Kwakukho iikota ezingama-24 ezilandelelanayo zokwehla konyaka-kunyaka.
Ibango lucotha kancinci. Ukuthengiswa kwekhaya eSpain kwehle nge-3,1% kwiinyanga ezilishumi zokuqala zika-2019 xa kuthelekiswa nexesha elifanayo lonyaka ophelileyo, ukuya kwiiyunithi ezingama-427.638, emva kokunyuka kwe-10,8% ngo-2018, i-15,4% ngo-2017, i-14% ngo-2016 ne-11,5% ngo-2015, ngokweZiko leLizwe lezibalo (i-INE). Inani leetransekshini zezindlu ezingamasekeni lehle nge-4% kodwa lonyuka kancinci nge-1,3% kwizindlu ezisandula ukwakhiwa.
Okokugqibela, khumbula ukuba Ewe esLe meko iye yenziwa mandundu sisibhengezo sesimo se-alamu, esinciphise ibango kakhulu kwisiqingatha sesibini sika-Matshi. Ngayiphi na imeko, isiphumo esibangelwe ngubhubhane khange sibe nefuthe elibonakalayo kwiziphumo zekota yokuqala. Apho kungenakulityalwa ukuba kukho iinkampani ezimbini ezigqithile kulindelo kwiziphumo zeshishini labo kwikota yokuqala yonyaka ngamaxesha anzima kakhulu ngenxa yeziphumo zokwandiswa kwe-coronavirus.