The selective yields 8,500 points pending new references such as the latest Fed minutes or US retail sales
The Ibex-35 is taking a break after 11 consecutive sessions of raises in which it has managed to add 5%. After beating 8,500 points, the squad lost that level on Wednesday with a 0.5% drop, in line with the rest of the European stock markets.
Wall Street also fell from the highs of the past three months, awaiting key references such as the minutes of the latest Federal Reserve (Fed) meeting in July — which will be familiar with European markets already closed — and retail price sales data for the same period. month, an important piece of information to know how private consumption is behaving in the country in an environment of historical inflation rates.
Both references are closely related, because while the market has discounted the possibility that the next rate hike in the US will be “just” 50 basis points, compared to the 75 expected a few weeks ago, analysts at Bankinter recall that as private consumption data continue to show signs of resistance to inflation, there would be “more arguments for the Fed to continue with its rate hike program”.
Within the selective stocks, only eight stocks keep investor profit collection positive. Acciona Energía, Solaria and Naturgy top the list, but their progress is limited to just over 0.5% halfway through the session.
On the other hand, Fluidra, Colonial and IAG are the most bearish values of the session, with declines of more than 2%. Banks are also not reacting to Wednesday’s strong rally in government bond yields (which moves inversely with the price).
Specifically, the yield on the 10-year German bond rose by almost 12% to 1.09%, while that on the Spanish bond rose to 2.2%.
On the commodities market, oil prices fell again, with a barrel of Brent oil, a benchmark in Europe, below $92. For its part, the American West Texas yields up to $86.4.
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.
