The selective one leaves 0.5% as investors wait for central banks
Investors are opting for caution and are moving away from risky assets a week before the last meetings of the year of the European Central Bank (ECB) and the US Federal Reserve (Fed). No one wants to risk too much just a few sessions before the close, as recession fears are still very much alive in the market.
Against this backdrop, the Ibex-35 fell 0.5% below 8,300 on Wednesday, during a session in which investors have been awaiting the final revision of GDP for the euro zone’s third quarter, which moderated its expansion rate between July and July . and September, but one-tenth higher than originally estimated.
On the other hand, Chinese trade recorded another contraction in November due to the impact of Covid-19 containment restrictions and weakening demand due to the global slowdown, marking the second consecutive simultaneous decline in the exports and Chinese trade. imports, the setbacks of which were the most severe since the beginning of 2020, according to data from the Asian giant’s General Administration of Customs.
In this context, the Ibex 35 closed at 8,290.5 integers, with Repsol (-2.69%) being the red lantern of the session. Behind them were Telefónica (-1.93%), ArcelorMittal (-1.77%) and Acerinox (-1.69%).
At the top of the table, only Red Eléctrica (+0.58%), PharmaMar (+0.46%), Fluidra (+0.44%), Indra (+0.39%) and Rovi (+0. 4%) out. .
Meanwhile, in the commodities market, the price of Brent oil, a benchmark in Europe, fell 1.5% to $78.11, while the West Texas-type barrel stood at $72. Finally, the price of the euro against the dollar was 1.0498 ‘dollars’, while the Spanish risk premium was 98 basis points, while the required interest rate on the 10-year bond was 2.752%.
Source: La Verdad
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
