The downward trend of the stock market in the last 15 months, which has been aggravated by the appearance of Covid-19, continues punishing companies linked to banking and telecommunications activities listed in Ibex-35 and in general, in the rest of European stock indexes.
In the whole of 2019 and so far this year, these values have registered drops in profitability of around 14%, such as those of Santander Bank (13.3%), CaixaBank (13.7%) or BBVA (14.7%) not far from the 15.2% that it has registered Telefonica. And yes, at a great distance from the big ones of the Ibex-35, which have made decreases between 24% and almost 26% compatible. See ACS (23.9%), Banco Sabadell (25.7%) and Repsol (25.7%).
Telefonica would be in the mid-low band of setbacks of the set of values of the index of the Spanish Stock Exchange that since the beginning of 2019 has accumulated a fall of 7.4%.
If we analyze the projection of the last four years, Telefonicas shareholder return (TSR) has been on the bearish path that has also affected the telecommunications and banking sector. Telefonicas decline was 34.6%, while Banco Sabadell subtracted 44.2%, BBVA 22.7% and CaixaBank and Banco Santander 11.3% and 13.1%, respectively.