Telefonica, S.A. shares fall 1.33% intraday as Telefonica Brasil acquires 50% stake in Brazilian telecommunications company.

Telefonica, S.A. declined 1.33% in intraday trading. The company's subsidiary, Telefonica Brasil, signed a contract to acquire a 50% stake in a mobile telecommunications company in Brazil, which could potentially expand its market presence and service offerings. However, the broader market sentiment was negative due to the U.S. President's announcement of new tariffs, which impacted Spain's IBEX 35 stock index and likely contributed to the decline in Telefonica's stock price.