The Ibex 35 spreads from the main stock markets and loses 2.12%, its biggest drop since the Silicon Valley Bank crisis

2023-07-06 20:17:06

The pressure coming from the other side of the Atlantic, which began yesterday with the publication of the FED minutes, has caused severe falls in the old continent. In fact, the markets are already discounting, with a possibility close to 90%, the rise in interest rates that the central banks are going to carry out in July.

The signs of weakness that, until now, were being offset by certain macroeconomic data that remained stable, have turned into downward pressures that are already calling into question all the gains achieved in the first half of 2023.

The Ibex 35 has closed this Thursday with a decline of 2.12%, which has placed the selective at 9,285 points, in its worst session since mid-March, when the bankruptcy of US financial institutions such as Silicon Valley Bank ( SVB) plunged the markets.

Today no one escapes this leakage of benefits or collection of partial benefits. Companies such as Inditex, Amadeus, Meliá and IAG, which are performing so well in 2023, with total earnings of more than 30% accumulated, are leaving close to 3% today, which clearly indicates a feeling of fear and uncertainty on the part of the investors. Little can be highlighted today in our selective, but perhaps Indra should be praised, an asset belonging to a more defensive sector and the only value that closes in green today on the IBEX. In general, few values ​​avoid this bearish wave and the declines and make the national stock market add three sessions down.

Gold has been a somewhat volatile week where pressure on the dollar and aggressive comments from central banks regarding rate hikes have gold close to €1,920 per ounce, trying to continue on its upward path.

This week the barrel of crude oil has had a lot of movement. The possible drop in demand added to the rise in interest rates have on more than one occasion halted the attempt to rebound that oil has had. The price of a barrel of Brent remains around $75 and WTI around $71.

In the crypto asset market, bitcoin is around $30,000, assimilating this level again after having attempted a bullish attack near its annual highs. Ethereum is hovering around $1,880 after nearly touching $2,000 last week.

Felipe Fernández, XTB analyst