Spain's Ibex Stock Market Falls After Brazil Election Result
Listen to the story
The Spanish stock market fell a lot today.
It is called the Ibex. It did worse than other markets in Europe.
The reason is the election in Brazil. Lula won the election there.
Many Spanish companies do big business in Brazil. So this news is bad for them.
Telefónica is a Spanish phone company. Its shares fell 8% today.
Santander is a big Spanish bank. Its shares fell 5% today.
People also asked why shares in MercadoLibre fell today. MercadoLibre is a big online shop company.
This shows how one country's news can change markets in another country.
Vocabulary15 words
- stock market
- a place where people buy and sell parts of companies
- Ibex
- the name of Spain's main stock market list
- shares
- small parts of a company that people can buy
- Telefónica
- a big Spanish phone company
- Santander
- a big Spanish bank
- MercadoLibre
- a big online shopping company in Latin America
- election
- when people vote to choose a leader
- fell
- went down in value
- business
- work that companies do to make money
- Europe
- the continent where Spain is
- Brazil
- a big country in South America
- company
- a group that sells things or services
- bank
- a place that keeps and lends money
- online
- using the internet
- won
- got first place; was the winner
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Quiz
Answer key
1. Because of the election result in Brazil 2. 8% 3. True
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
The Spanish _____ fell a lot today.
It is called the _____. It did worse than other markets in Europe.
The reason is the election in _____. Lula won the election there.
Many Spanish companies do big business in Brazil. So this news is bad for them.
_____ is a Spanish phone company. Its shares fell _____ today.
Santander is a big Spanish bank. Its shares fell _____ today.
People also asked why shares in _____ fell today. MercadoLibre is a big online shop company.
This shows how one country's news can change markets in another _____.
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