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MADRID, June 24 (Xinhua) -- The Spanish Ibex-35 stock exchange on Friday followed the major European markets by suffering the biggest one day loss in its history in the wake of the result of the decision taken by voters in the UK referendum leaving the European Union (EU).
Spain is considered the EU economy to be most vulnerable to the "Brexit" and this was reflected by losses of 12.35 percent in share prices as the Ibex crashed to 7,787.70 points: the biggest loss in its history in a single day.
The Ibex was dragged down by important quantities being wiped off the share values of Spanish banks.
The Banco Santander, which has an important UK subsidiary (Santander UK) and the BBVA lost 19.89 percent and 16.18 percent respectively, while the Banco Sabadell shares lost 20.87 percent of their value.
Other important Spanish companies also felt the effects of the UK referendum with Telefonica (which has O2 as its UK subsidiary) losing 16.12 percent, Repsol, 10.94 percent and Iberdrola 10.20 percent.
Meanwhile the Spanish risk Premium climbed to 165.70 points, while the rate of interest on the 10-year-bond ended the week on 1.62 percent. Enditem
