The hangover of the ECB is noted even in the markets, after the blows recorded yesterday. Investors also find the encouraging news of the resumption of trade negotiations between the US and China. The stock exchanges in Europe point to the upside, as does an Ibex that amplays its weekly rise thanks to the pull of banks and cyclical values.
The pessimism that gripped the financial markets a month ago has given way to more restrained alerts about both the economy and politics. The initiatives of the British Parliament have hindered an eventualBrexitwithout agreement, and the escalation in the tariff war has slowed to a halt, to the point that in recent hoursUSA and ChinaThey have confirmed that they will resume business talks next week, earlier than initially announced. This advance comes after the gestures of goodwill by both parties, and especially after China resumed purchases of US agricultural products. The commercial advances have driven this morning another 1.05% the escalation of the Tokyo Nikkei.
The fears of recession persist, but they are softened in the hope of avoiding at least the worst scenarios planned, especially those of a Catholic Brexit and an escalation in the commercial war. To mitigate the deterioration of the economy,central banksThey have activated a new battery of monetary stimuli. To the reduction of rates of the Federal Reserve of the United States yesterday all the measures adopted by the European Central Bank were added. The most prominent were the reduction in the ease of deposit and the launch of a new debt purchase program, in addition to a change in the perspectives on the types of interest that moves away a future rise.
TheSpanish bagIt takes one more step in the increases that it accumulates in the week, and manages to give continuity to the 2% comeback achieved in the previous week. The Ibex increases the profit to about 1.5% compared to 8,990 points with which it closed last Friday. In its maximum intrada the selective index consolidates above 9,100 points.
The ECB's stimulus measure battery baffled investors yesterday, especially those in sectors more closely linked to interest rates and debt yields, such as banks, electricity and real estate. The financial sector, the most directly affected by the ECB measures, closed yesterday with a disparate sign. BBVA, also pending the news in Turkey, leads the increases, while Bankia leads the falls. In full hangover of the ECB, the German banking employer, especially critical of the expansive policies of Draghi, admits that the compensation systems introduced yesterday represent a "moderate respite", with savings of about 500 million for German banks. The commercial truce and the rebound in the interests of the debt also play in favor of the rebound of the Ibex banks.CaixaBank and Sabadellthey stand out in the rises, unanimous in the sector, also among the banks listed in the Continuous asUnicaja and Liberbank.
The Ibex gains momentum with the pull of the banks, and also relies on theindustrial valuesto shore up his climbing. The new stimuli of the central banks and the greater commercial truce encourage the quotes of companies such asArcelorMittal, Acerinox, Ence and Cie Automotive.
The correction of a heavyweight likeInditexhas slowed the rise of the Ibex in the week. The collection of benefits that investors activated after the accounts published by the textile giant continued yesterday, amid disparate valuations by investment firms. Inditex shares have to make an effort today to save the level of 27 euros.
TheEuropean bagsthey share a bullish sign, with the exception, in any case, of the London Stock Exchange, lagging behind the escalation of the pound. The advance of the start of trade negotiations between the US and China encourages cyclical values and the ECB hangover accelerates bank rises.
Negotiations on Brexit keep British distribution companies in suspense, among other sectors. The supermarket chainSainsburyrecognizes that a Brexit without agreement will inevitably cause supply problems in its stores. Strike threats are not limited to airlines.DiageoHe suffers on the stock market due to the demand of his staff for a 5% salary increase, under the threat of starting a strike.
Equity investors are forced once again to closely monitor the movements that record both public debt and foreign exchange. Yesterday's session included sudden blows. TheeuroIt was initially deflated with the ECB up to $ 1,092. The subsequent comeback continues today, in the midst of a lower risk aversion thanks to advances between the US and China, and the community currency brushes even $ 1.11. Thepound, it expands its climbing, of 4% already in ten days, and exceeds 1.24 dollars, in maximums since the end of July.
The ECB hangover brings a greater truce in the currency market. Difficult it has to repeat the magnitude of the blows suffered yesterday, when the interest ofSpanish bonusat ten years it sank first from 0.25% to 0.12%, before starting a comeback until it closed almost at the point of origin, at 0.22%. Today, it is close to 0.25%. The risk premium falls below the usual basic 80 points level in the last days.
The market ofoilNor has he got rid of the ups and downs this week. The possibility that the US will soften the sanctions on Irn has accelerated the correction in the price of crude. The barrel of Brent is quoted at the edge of the 60 dollars, while the West Texas type barrel, reference in the US, rubs the 55 dollars.