The Ibex 35 falls among the European stock markets. The selective starts with a rise of more than 0.2% that allows it to consolidate the range of 9,200 points and look towards the barrier of 9,300 after the rises in Asia, in which the Nikkei, the main index of the Tokyo stock market, has surpassed the psychological barrier of 31,000 points for the first time since July 1990, before the bursting of the financial bubble in Japan. The day on this continent has been marked by the People’s Bank of China (BPC) which has maintained its reference interest rate at 3.65% on Monday, a rate that has been at the same level since it executed a reduction in August 2022 of five basic points, while the five-year rate, used for the reference of mortgages, remained at 4.3%.
He complies with the forecasts of analysts, who did not anticipate movements, while the institution indicates that the reference rate for credits will remain intact for at least a month. All eyes are also on the US, waiting for what may happen regarding the negotiations to raise the debt ceiling, which will meet again this Monday to try to bring positions closer after the Republicans got up from the table last Friday. Ernes
The US Treasury Secretary, Janet Yellen, has once again insisted on the magnitude of the consequences of not being able to reach an agreement on time before June 1, the date on which the country will run out of reserves to pay, among other expenses. pensions. To add more pressure, next Friday the personal consumption price index for April, the PCE, is published, which is the price variable most followed by the Federal Reserve in its monetary policy. “The risk for the markets is that this little political battle gets out of hand and causes a real headache. In principle it is a scenario that we have not fully contemplated, but the high political polarization suffered by the US, very similar to that currently experienced by many other developed countries, we cannot rule out irresponsible behavior on both sides, something that, on the other hand, we understand has little political gain, a gain that is what they are really looking for with their actions”, a signal from Securities Link.
The stock markets of the Old Continent are also preparing for the publication of the preliminary readings for May of the leading activity indices for the manufacturing and services sectors, the PMIs produced by S&P Global in Germany, France and the United Kingdom. In this context, Milan lost more than 1%, Paris cut 0.19% and Frankfurt fell 0.17%. On the contrary, London rises 0.17%. Back in Spain, the impulse of the Ibex is carried out by IAG (+1.2%), Cellnex (+1.15%) and ACS (+1%), while Mapfre falls more than 3.6% and becomes the ‘red lantern’ of the session followed by ArcelorMittal, which registers a fall of 0.85% and Acerinox 0.6%.
In other markets, the price of a barrel of Brent oil, a reference for the Old Continent, stands at a price of 74.70 dollars at the opening, with a decrease of 1.1%, while Texas reaches 70, 83 dollars, with a decline of 1.2%. In parallel, the price of the euro against the dollar stood at 1.0810 ‘greenbacks’, while, in the debt market, the interest demanded on the ten-year Spanish bond stood at 3.470%.