The largest decreases are recorded by Cie Automotive, Acerinox, Santander, Fluidra, IAG and Meliá, all with a decrease of more than 2%
Last Friday, global stock markets panicked as US inflation figures (8.6%) were released amid fears that the price hike would trigger an economic recession. The Ibex-35 was not spared, collapsing 3.68%, its second worst fall of the year, with all its publicly traded companies in the red.
Monday starts off calmer, but still with the shock in the body. It is down 1%, bringing it to 8,302 points in a week set to be marked by the United States Federal Reserve (Fed) meeting, where a 50 basis point increase is expected after CPI notification for May.
This week also meets with the Bank of England, which could announce further rate hikes. Looking at macro data, investors will want to monitor US retail sales and building permits, the ZEW investor sentiment index in Germany and industrial production in China.
In this way, after a decline of 3.6% on Friday and a deepening of the weekly decline to 3.8%, the biggest drop since March, the selective Madrid started to hold the psychological level of 8,300 points, with most values in red.
In the early stages of this Monday’s session, the biggest falls were recorded by Cie Automotive (-4.14%), Acerinox (-2.92%), Santander (-2.7%), Fluidra (-2.53 %), IAG (-2.36). %), Meliá Hotels International (-2.12%) and Amadeus (-1.94%), while on the other hand only Red Eléctrica (+0.48%).
The rest of the European stock markets opened with declines of 1% in the case of Frankfurt and Paris and 0.7% for London.
The price of a barrel of Brent crude, a benchmark for Europe, stood at $120, down 1.6%, while a barrel of WTI, a benchmark for the US, fell 1.6% to the $118.
The price of the euro against the dollar was 1.0486 ‘greenbacks’.
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.
