Sales are strong on the European stock markets. After the session from less to more on Wednesday, the losses mark this Thursday plagued with macro references and hit by Trump’s insistence on signaling China for the epidemic and the threat of Sánchez for repealing “full” labor reform. The Ibex 35 falls 1.5% to 6,583 points.
Only three values hold green after the bell rings. Siemens Gamesa and Viscofan rebounded around 1.5%, while at Aena the progress was more moderate.
Banking is once again the engine of the Ibex, with some of the strongest falls for Santander, BBVA and Bankia, which is setting new record lows this Thursday. The red also infects the airline holding company IAG, which suffers the cut of its debt to ‘junk bond’ by the rating agency S&P, which estimates that this year it will have to double its debt to avoid bankruptcy while its Ebitda will be negative due to the drastic reduction in flights.
Highly loaded macro data session with the May PMI manufacturing and services parade in France (9:15 am), Germany (9:30 am), Eurozone (10:00 am), UK (10:30 am) to go later in the afternoon to the data on US unemployment claims in which another 2,400,000 grant applicants await.
At 3:45 p.m. we will know the US PMI, at 4:00 p.m. data on second-hand homes sold (4.3 million) and at 8:30 p.m. new speech by Fed President Jerome Powell .
All this in a very neutral environment with very slight corrections in the Asian markets and a few futures at night with more corrections that cancel much of yesterday’s rises since the closing of the European market so the Ibex will also fall but much less at the opening .