2023-08-17 17:59:04
The rise in bank values has not been able to prevent the Spanish stock market from returning to losses, with a fall of 0.78% for the Ibex-35, which has led the selective to lose 9,300 points at the end of the session. Acciona Energía and Aena were the most bearish values with losses of more than 3%, while Rovi and Bankinter led the high part with an advance of around 1%.
Investors were very attentive to the start of the XV Legislature in Congress. But in his mind the macro references that have been coming to light these days weigh more heavily, especially from China, where the weakness of its economy is confirmed with each passing day.
The international demand of the Asian giant is key to the proper functioning of the global economy. So any sign of a slowdown in China will serve as an excuse for investors to withdraw positions from a market at half throttle in the middle of the summer holidays.
In fact, experts anticipate that the stock markets will move little until the next key appointment with the future of monetary policy, which will be on August 24 with the start of the annual meeting of central bankers in Jackson Hole. Investors hope to find new clues there as to whether or not the interest rate hike cycle will come to an end in September.
For now, this Thursday the Bank of Norway (Norges Bank) has been the last to raise interest rates by 25 basis points, until placing the reference rate at 4%, adding that it expects to undertake another rise of a quarter of a point at next month’s meeting.
On the other hand, in the raw materials market, the price of oil was picking up again and a barrel of Brent, a reference in Europe, reached 85 dollars, while West Texas in the United States was around 80 dollars.
Meanwhile, the price of the euro against the dollar advanced to 1.0880 ‘green tickets’, while in the debt market the interest demanded on the 10-year Spanish bond fell to 3.736% and the risk premium stood at the 105 points.
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