2023-09-25 18:28:34
The scenario of interest rates at high levels for longer than expected continues to take its toll on the European stock markets, which this Monday closed with sharp falls that accompany new highs in debt interest.
As if that were not enough, investors had to deal with a new session of sinking for the securities of the Chinese promoter Evergrande, which plummeted 20% after announcing that it cannot issue new debt.
In Spain, the Ibex-35 fell 1.2% to 9,386 points in its third consecutive session of falls. Only two values of the entire Spanish selective managed to avoid the red numbers. Fluidra rose 0.16%, while Repsol advanced a slight 0.03%.
On the opposite side, Acciona was the value with the worst performance (-3.44%), ahead of IAG (-3.03%), Acciona Energías Renovables (-2.90%), Meliá (-2.69%) , Amadeus (-2.57%) and Sacyr (-2.37%).
Within the national stock market, Deoleo shares plummeted more than 5% at the close of the trading session, after announcing net losses of 9.7 million euros in the first half of this year, impacted by lower oil consumption olive oil due to its high prices and after warning that the price of oil will continue to rise throughout the second half of the year. Specifically, the titles of the manufacturer of the Hojiblanca and Carbonell olive oil brands recorded a final drop of 5.06%, until they were exchanged at a price of 0.2345 euros.
Outside of the business section on the stock market, the expectation that central banks will maintain high rates in their fight against inflation has triggered volatility in the fixed income markets, where countries’ bonds are traded.
Investors are increasingly demanding to buy this debt, so the returns offered have skyrocketed. For example, the ten-year US bond rate remains at its highest level since 2007, above 4.5%. And the interest on the German bond for the same term is close to 2.81%. In the case of the ten-year Spanish bond, it is already at 3.9%, a 2014 high.
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