The fear of the economic slowdown returns to the markets and the selective one remains 1.5%
Bad month, bad quarter and the worst semester since the outbreak of the pandemic for the Ibex-35. The Spanish selective will close on Thursday a period marked by the war in Ukraine, the fear of inflation and above all its impact on the recovery of the world economy, which for many is heading for a recession.
European stocks took heavy losses in the last session before the stock market summer, with losses of more than 2% in Germany and another 1.5% setback for the Ibex-35, pushing the indicator below 8,100 points. At the end of Wednesday, it selectively recorded a decline of 7% in June, 3% in the second quarter and 6% since the start of the year.
However, poor numbers are much more limited than other markets, especially on Wall Street, with the Nasdaq technology index falling more than 20% and the S&P 500 by 16%.
Within the national park, the largest declines were for IAG, at -3.41%; ArcelorMittal, at -3.20%; and Melia Hotels, by -2.30%.
On the contrary, of the few gains at the start of the session, Grifols’s stood out, rebounding 1.35%; Telefónica, up 0.27%; and Siemens Gamesa, up 0.06%.
Banking is also negative: Santander’s stocks returned 1.75% and Caixabank’s 1.07%, while BBVA’s fell 1.15%. Similarly, Bankinter and Sabadell shares lost 1.03% and 1.04%, respectively.
On the commodities market, the oil price declined slightly, with a barrel of Brent, a benchmark in Europe, trading at $111, while the US West Texas traded at $109.
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.
