He accumulates 12 consecutive sessions in negative, his worst streak in history
The Ibex-35 opened in September with a 1.02% drop, leaving it at 7,802 at the end of the session and putting its twelfth session in ‘red’, its worst run in history.
The session was marked by news from China. On the one hand, it has announced the indefinite closure from today of the 21 million-population city of Chengdu, due to a new outbreak of the coronavirus. On the other hand, the manufacturing PMI fell for the second month in a row in August, returning to the 49.5-point contraction zone.
Production PMIs for the eurozone and Spain, among others, have also been announced. Eurozone sector activity registered its worst level in 26 months in August, at 49.6 points, from 49.8 in July. In Spain there was a stagnation of production, which means a slight improvement compared to the contraction registered in July.
Similarly, Eurostat today published data on the unemployment rate in the eurozone, which stood at 6.6% in July, which is the lowest unemployment level of the nineteen in the entire historic series, dating back to April 1998.
In Spain, the Treasury has placed 5,370.22 million euros in a new auction of bonds and bonds, within the expected average range, by compensating investors with higher interest rates.
With regard to the energy crisis, the European Commission has confirmed that it is examining the application of a gas price cap within the European Union, the reform of the electricity market and possible electricity saving plans, in addition to the plans already implemented to reduce gas demand , in response to the rise in electricity bill prices.
For its part, the president of the government, Pedro Sánchez, announced today that the executive will reduce the VAT on gas from 21% to 5% from October.
In this scenario, the Ibex 35 is closed with much of its readings in ‘red’, focusing on the ArcelorMittal falls (-6.13%), Fluidra (-5.27%), Acerinox (-5, 08%), Meliá (-4.38%), Amadeus (-4.18%), Indra (-3.51%) and Grifols (-3.49%).
Only Iberdrola (+1.16%), Acciona Energía (+0.87%), ACS (+0.81%), Telefónica (+0.73%) and Naturgy (+0.25%).
The rest of European stocks are also down more than 1% in this Thursday’s session: London is down 1.86%, Paris 1.48%, Frankfurt 1.60% and Milan 1.19%.
Similarly, the price of a barrel of Brent oil, a benchmark for the Old Continent, stood at $92.87, down 2.90%, while Texas stood at $87.00, after falling 2. .85%.
Finally, the price of the euro against the dollar was 0.9938 greenbacks, the risk premium was 120 basis points and the yield on the 10-year Spanish bond was 2.756%.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
