JPMorgan increases pressure on Telefónica in the Ibex
The telecommunications company is having a dismal day on the Ibex. The stock market correction caused by the results of the elections in Brazil is worsening with the double downgrade issued today by JPMorgan.
Telefónica's shares plummeted up to 8% on the Ibex due to the outcome of Brazil's presidential election and a double downgrade by JPMorgan. Lula da Silva's victory over Flávio Bolsonaro led investors to unwind positions, according to Manuel Pinto of XTB. JPMorgan changed its recommendation to underweight and cut its price target for Telefónica from 3.70 euros to 3.20 euros. The shares hit an intraday low of around 3.10 euros.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- From Telefónica to Santander: the stocks most exposed to Brazil plummet on the Ibex expansion.com
- Orange gets 70% of the aid to deploy 5G in rural areas, compared to 30% for Telefónica cincodias.elpais.com
- Murtra replaces the entire top management of Telefónica in Brazil in the midst of the electoral campaign elpais.com
- Telefónica, Deutsche Telekom, Orange and Vodafone are evaluating a joint bid for Mobile Satellite Services (MSS) spectrum in Europe. thecorner.eu
- Deutsche Telekom, Orange, Telefónica and Vodafone are exploring a joint satellite spectrum bid qz.com
