The Capricorn suffers its third consecutive fall with the ballast of the bank


The selective loses 0.4% to 8,106 points in a session marked by strong volatility

There is volatility in global stock markets in light of the uncertainty that continues to generate the impact that the change in central banks’ monetary policy will have on the global economy. Investors are hesitating between buying after the fall or being extremely cautious in anticipation of new indicators offering more clues about the future of the recovery.

A sense of hesitation manifested on Thursday in notable swings that eventually ended with losses of 0.5% for the Ibex-35, which however managed to withstand 8,100 points. To get a sense of the day’s roller coaster, the gap between the low and the high of the day was between 8,034 and 8,172 points.

Banking securities were the main victims of the sales, with declines of almost 5% in Bankinter, Sabadell and CaixaBank and about 3% in the case of BBVA.

The main shadow of the day was the release of the Eurozone PMI data, one of the indicators most followed by the market in recent months due to its early nature. And the news is not rosy at all. Investors had expected the euro-zone composite PMI to fall from 54.8 points in June to 54.8 points a month earlier in June.

However, the data eventually fell to 51.9 points, a 16-month low and very close to the 50 that forms the barrier between what is considered growth and economic contraction.

Investors closely followed Fed Chair Jerome Powell’s intervention before the Senate Banking Committee, in which he reiterated his message that inflation could continue to surprise this year and rule out a recession in the US economy. , thanks to the strength of the labor market and strong demand.

On the upside, energy companies stood out, having been hit hard in the last two sessions after learning of the government’s plans to impose a tax on the sector. Iberdrola (+3.83%), Grifols (+3.02%), Ferrovial (+2.45%), Telefonica (+1.92%), Acciona Energia (+1.07%), Endesa (+0 .90%) and Red Eléctrica (+0.89%) were the most bullish values ​​of the session.

The price of a barrel of Brent grade oil, a benchmark for the Old Continent, stood at $111.29, down 0.41%, while Texas stood at $105.56, down 0. .59%.

Source: La Verdad


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