Thursday, December 01, 2022

Fear of energy crisis settled in stock markets: Ibex 35 fell 0.71% in its fifth negative session

As the global energy crisis deepens, the world’s major stock markets are suffering. In the fifth consecutive negative session, Ibex 35 is down 0.71% to 8,226.3. European stock markets have been affected by the latest data on the Eurozone economy.

Activity in the Euro Block is Recorded in August This is the lowest level in the last 18 months. that is PMI Index, which stood at 49.2 points, slightly lower than July’s 49.4. The same indicators have fallen in the case of Germany and France.

The figures have been published at a time when energy prices are skyrocketing, Gas prices hit new highs on Monday -about 300 euros per megawatt hour- after what Russia will announce that Nord Stream will close the gas pipeline for three days for maintenance.

Along with this is drought that is ravaging the entire Northern Hemisphere and which will mean a reduction in hydroelectric energy produced in the coming months.

In this environment, “power increase” You of gas in Europe causing this Uncertainty about the course of monetary policy European Central Bank (ECB) grow In terms of the pace of increase in interest rates”, Renta 4 expert explains.

the end of rally

With this scenario, investors are choosing To reduce their risk position. Ibex 35 is suppressed within a few days All the advances that he had recorded in the last two weeks and due to which he was trading at 8,500 mark.

Between 1 and 16 August, a select few in Madrid experienced rally Climbing 12 consecutive climbs to the top, his best streak since 2009. Last Tuesday it reached the level of 8,500 integers for the first time since June Then start descending immediately.

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Two prices of Ibex 35 have fallen by more than 3% this Monday. It has been about Selnex and Grifols, who have lost 3.59% and 3.15%. In practical contrast, three companies have risen more than 3%: Acerinox (3.82%), Repsol (3.63%) and ArcelorMittal (3.15%).

Bags are waiting for Powell

While the Ibex 35 has added a new negative session, Wall Street, like the rest of the major European stock markets, was trying to contain the downside. The Dow Jones stood out from the positive trend recorded by the S&P 500 and Nasdaq at the end of the day in the old continent.

New York continues to fly on the parquet It is likely that the Federal Reserve (Fed) will continue with its aggressive policy of raising interest rates. of interest and its effect on the economy.

wall streetyou are already broken her last week Bullish streak in which they made a profit of four consecutive weeks, thus recovering part of the land lost in the first half of the year.

The main indices of the New York Stock Exchange rose between mid-July and mid-August. This was thanks to the expectation that inflation had peaked and this would allow the Fed to opt for a less aggressive policy.

[La Fed valora reducir el ritmo de la subida de tipos para evitar un daño mayor en la economía de EEUU]

Now the bags are waiting carefully Comments That Fed Chairman Jerome Powell Will Make This FridayDuring an economic seminar in Jackson Hole (Wyoming, USA).

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“There is a ‘risk’ that Powell Be adamant about high inflation And prioritize controlling it, even if it could put the US economy into recession. It is this “speech” that stresses investors”, Point out the experts at Link Scurities.

[La crisis energética golpea al euro y mete más presión al BCE para respaldar la moneda comunitaria]

At the close of the European stock exchanges, brent oil It rose sharply to 3.08% and the price was close to $100 per barrel. growth was fueled by Remarks from Saudi Arabia’s Minister of Energy, Prince Salman bin Abdulaziz.

He warned of a disconnect between the futures and physical markets on Monday, which, according to experts, opens the door to For the Organization of the Petroleum Exporting Countries (OPEC) to adjust their production downward.

gas price hike TTF in the Netherlandshave reached 295 euros per megawatt hour (MWh), which represents its highest price level since last March. However, at the end of the day the trend reversed and raw material price eased.

On the other hand, the euro remained below par against the dollar. -A level that fell again a month and a half later on Monday – and was exchanged at 0.998 ‘Greenback’.

Returns on 10-year Spanish bonds fell, Although it was still above 2.5%. The risk premium climbed 119.1 basis points.

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