The Ibex 35 ended the day on Wednesday with a rebound of 2.44%, which has led the selective to stand near 7,200 points and to sign its sixth consecutive session in ‘green’ encouraged by the advance of banks, great values and with the help of the proposal of the European Commission (EC) to create a European recovery fund.
The main indicator of the national parquet has gained 170.6 points, that 2.44%, up to 7,174.5 points, with which it registers six consecutive sessions on the rise, its best streak since the end of August 2019, and stands at levels mid-April. Accumulated losses in the year still rise to 24.87%.
The Ballast of Tensions in the US and China
The index has behaved like this in a context that continues to be marked again by tensions between the United States and China, the economic reopening plans of different countries, including Spain, and the news related to possible vaccines for Covid-19.
Investors were also attentive to Brussels, where the European Comission has proposed a recovery plan that would reach the 750,000 million in two years and that it will be channeled to governments mainly through direct transfers (500,000 million) but that would also include a portion of loans (250,000 million).
This Wednesday the President of the European Central Bank (ECB), Christine Lagarde, has indicated that the eurozone economy will suffer a contraction of between 8% and 12% in 2020, thus worsening the range of the recession expected for the region as a consequence of the Covid-19 pandemic by ruling out the least negative scenario raised a month ago by the entity, which estimated a drop in GDP of 5%.
The greatest promotions have been presented CIE Automotive (+ 9.38%), Amadeus (+ 6.05%) e IAG (+ 5.5%). Banco Santander (+ 4.88%) and Ence (+ 4.67%) also finished the day on positive ground.
Meanwhile, in the negative terrain they have located Grifols (-6.38%), Meliá (-3.2%) and ACS (-3.2%). Merlin Properties (-2.86%) and MásMóvil (-1.53%) who also closed the session this Wednesday in ‘red’.
The main European stock markets have also ended positively, with increases of 1.12% for the Ftse 100 de London, of 1.61% for Cac 40 of Paris, of 1.31% for the Dax of Frankfurt and 0.17% for the Mib of Milan.
The barrel of petroleum West Texas Intermediate (WTI), benchmark for the United States, was trading at $ 32.81, while Brent crude, benchmark for Europe, was priced at $ 34.6
For its part, the Spanish risk premium it stood at 106 basis points, with the interest demanded on the ten-year bond at 0.643%, while the price of the euro against the dollar fell to 1.0956 ‘green notes’.