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The Ibex 35 seeks the rebound towards 9,300 amid the economic chill from China

Date: June 20, 2024 Time: 12:32:19

The Ibex 35 has started the day and the week with advances (+0.3%) in an attempt to recover the level of 9,300 points after closing on Friday at 9,267 points. The remains of European stocks register a mixed tone. Paris and Frankfurt are also inclined to rises in the proportion of the Spanish index, but Milan and London declined in line with what happened in La La La La ADA in the Asian session, with falls (-1.9%) in Hong Kong and Increases in Tokyo (+0.2%).

Investors’ focus remains on China, where the main stock markets were in negative after the Bank %. On the other hand, the institution left the prime interest rate for five-year loans unchanged at 4.2%, which is used for mortgage loans. This came as a surprise to analysts, as a 15-point reduction was expected

“To start the week, and in a session with few macroeconomic and business references, we expect European stock markets to open flat and/or slightly higher today, with some investors taking advantage of the recent sharp cuts in many stocks to reposition their portfolios. Bond price rebound on Friday should help equities Juan J. Fernández-Figares, Managing Director at Link Securities.

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In a day with few relevant references, investors remained attentive to China, whose uncertainties about its economy affected the markets the previous week while waiting for the big meeting for monetary policy: the Jackson Hole summit of central bankers, scheduled to start on Thursday, with the main course on Friday, which delivered speeches by Christine Lagarde, President of the European Central Bank (ECB), and Jerome Powell, Chairman of the US Federal Reserve.

After the first half hour of trading, the biggest gains on the Ibex 35 were for Grifols (+1.56%), Meliá (+1.48%), Solaria (+0.79%), Sacyr (+0.74 %) and Unicaja Banco (+0.60%). On the other hand, the greatest falls at the beginning were observed in Colonial and Fluidra (-0.57% in both cases), and Merlin, whose shares fell by 0.54%.

in the energy market. The price of a barrel of Brent oil, used as a reference in Europe, increased by 0.7% to reach 85.38 dollars, while the price of Texas oil was located at 81.22 dollars, an increase of almost 0, 7%. The price of TTF gas rises by 10% and exceeds 40 euros/MWh. In the currency market, the euro remained close to 1.0877 US dollars, while in the bond market, the interest on the Spanish 10-year bond fell to 3.678%.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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