The stock market has the worst streak in its history with 11 negative sessions

Date:

This Wednesday it loses another 1.1% and is below 7,900 points

The Ibex closed this Wednesday down 1.1% and below 7,900 integers, meaning 11 sessions chained in ‘red’ and the worst streak in its history recorded.

The selective Madrid is located in the 7,886.1 integers. In the August balance, the decrease is 3.3%, while compared to the beginning of 2022 the index decreases 9.5%.

The evolution of the Ibex35 during the month of August was determined by the macroeconomic data and the possible decisions of the central banks. If the selective registered an upward ‘rally’ in the first half of the month that led to it counting positive for 11 days, the red has been predominant for the past two weeks ahead of the rate hikes announced by central banks, especially the Federal Reserve. (Fed) of the United States and the ECB.

In addition, the energy crisis has left countries in trouble again, with Russia announcing multiple shutdowns due to maintenance on the Nordstream gas pipeline, which carries gas to Germany, which is heavily dependent on this raw material.

On Wednesday, investors learned that euro-zone annual inflation stood at 9.1% in August, compared to 8.9% recorded in July, representing the euro-region’s highest price increase in the entire historic series and more than four times the European Central Bank’s (ECB) price stability target of 2%, whose Governing Council will meet again next week.

According to preliminary data published by Eurostat, the price increase in the eurozone accelerated in August, despite the fact that the year-on-year increase in energy prices slowed to 38.3%, from 39.6% in July.

For its part, Italy’s consumer price index (CPI) rose to 8.4% in August and has peaked since 1985, and France’s CPI has moderated to 5.8% this month.

In this scenario, the biggest gains in the Ibex 35 today were recorded by Meliá (+2.98%), CaixaBank (+2.11%), Sabadell (+1.42%), Bankinter (+1.39%), Rovi (+1.24%). , IAG (+1.17%) and Mapfre (+0.36%).

In the negative field, on the other hand, Red Eléctrica (-3.54%), Inditex (-2.66%), Enagás (-2.62%), Iberdrola (-2.44%), Naturgy (-2.38%) , Endesa (- 2.29%) and Cellnex (-1.75%).

The other European stock exchanges closed with a 1.05% decline in London, 1.37% in Paris, 0.97% in Frankfurt and 1.22% in Milan.

The price of a barrel of Brent oil, a benchmark for the Old Continent, was $96.77, down 2.56%, while Texas was $91.13, after dropping 0.57%.

Finally, the price of the euro against the dollar was 1.0063 ‘greenbacks’, while the risk premium was 118 basis points and the yield on the 10-year Spanish bond was 2.725%.

Source: La Verdad

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