European stock markets closed with solid gains after the bullish opening on Wall Street and the recent easing of debt interest rates. Despite the collapse of Indra, the Ibex has closed with a rise of 1.70% to 8,244.10 points, with which it ends a streak of three falls. In the week as a whole, the Spanish selective has added 1.2%.
The escalation in debt interest has given way to a notable correction in recent sessions. Buying has returned to fixed income as fears grow among investors of a macro deterioration, even in the form of a recession. The decline in the required return on bonds is a relief. In just three days, the interest on the Spanish ten-year bond has deflated from 2.8% to 2.55% and that on the German bund, from 1.7% to below 1.45%. The puncture known yesterday in the composite PMI index has aggravated the magnitude of the expected economic slowdown in the eurozone. On the other side of the Atlantic, the US bond yield is around 3.10%, far from its recent highs above 3.3%.
The truce that the debt markets transfer encourages the improvement in equities. The day began with notable gains in Asia. The Nikkei closed with a revaluation of 1.27%, and in China the CSI 300 index gained 1.17%. Wall Street is also moving with strong gains in the last session of the week. The portfolio adjustments typical of the change of semester begin to gain strength, and the S
The Spanish stock market has cut its streak of three consecutive days of falls. At the close, the Ibex has added 1.70% and says goodbye to the week at 8,244.10 points. In the last five sessions, the selective Spanish has revalued 1.2%.
The Ibex has reacted today to the collapse of Indra. The stock market crash caused by the reorganization of the council has risen to 14.76%. Investor misgivings have increased after the government’s new intervention on the board of the Ibex company. The magnitude of today’s falls in its price more than erases everything gained in the year.
After a start of session with many doubts, the banks have recovered from yesterday’s punishment, with advances in BBVA of 2.36%, in Santander, of 1.62% and in CaixaBank, of 1.04%. Sabadell has stood out with decreases of 0.17%.
The banking rebound has been supported by new advances in the price of utilities. The macro deterioration favors less cyclical companies. Endesa has risen 2.35%, Iberdrola, 2.41%; Enagás, 1.87% and Red Eléctrica, 1.77%.
The rest of the European stock markets have also closed with solid advances, of 2.68%, in the case of the British Ftse, which allow it to shore up 7,000 points; and 1.59% in the German Dax, which recovers the level of 13,000 points. The French Cac has appreciated by 3.23% and the Italian Mib, by 2.33%.
The improvement in the markets and the concern in the US about the magnitude of the slowdown in its economy have slowed down the value of the dollar. The euro repeats one more day at the level of 1.05 dollars. The British pound, in turn, is close to the level of 1.23 dollars.
The price of oil is torn between a limited supply and the fear of a recession. The barrel of Brent rises today to 113 dollars, and in the United States, the West Texas type barrel is trading at 107 dollars.
The references on the brake of the dollar do not prevent the price of gold from staying close to 1,830 dollars per ounce, below the usual reference in recent weeks, 1,850 dollars. Bitcoin, meanwhile, is trying to expand its cushion above the $20,000 barrier.