2023-10-10 18:43:19
Strong rebound in European stock markets after the uncertainty of recent sessions. The Ibex-35 rebounded 2.2% at the close in its best session since March to recover 9,300 points. An upward movement that was brought about by relaxation in the debt markets, where bond interest rates have fallen sharply in the last session.
In the Spanish case, the yield on the ten-year bond – which indicates what investors require to buy a country’s debt – stood at 3.88%, below the 3.925% registered at the close of Monday and far from of the 4% that it has recently surpassed.
The search for assets considered safer has returned purchases to this segment of the market, which has also been favored by a more conciliatory tone on the part of some members of the US Fed, with some internal voices already pointing out that there will not be a new rate hike.
The president of the Federal Reserve Bank of Dallas, Lori Logan, specifically indicated that the rise in bond market spreads could encourage the “cooling” of the economy and make it less necessary for the Fed to tighten its monetary policy.
Against this backdrop, oppressism prevailed in all European stock markets, led by Grifols in Spain with gains of more than 4%, as was Cellnez. Colonial (+3.92%), Acciona Energías Renovables (+3.59%), Meliá (+3.22%) and BBVA (+3.07%) continued the increases.
On the opposite side, only Fluidra closed the session in ‘red’, with a drop of 0.34%. Regarding the smallest increases in the Stock Market, they have occurred in Endesa (+0.79%), Redeia (+0.84%), Mapfre (+0.92%) and Indra (+0.97%).
In the raw materials market, a barrel of Brent was trading at $87.46, 0.78% less, while West Texas Intermediate was at $85.67, 0.83% less.
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