June 21, 2021

An Ibex in green continues to the tail of Europe


The main indexes of the old continent have returned to show indecision, after starting the last session of the week and of the month with slight falls that consolidate the gains in the month

The day has started without references from Wall Street, which yesterday was closed on the occasion of the celebration of Thanksgiving. Today, only half session is open where uncertainty continues to cast doubt on the main stock markets. Indecision in trade relations between the US and China continues to hamper the international market, after the United States has signed the decree in support of Hong Kong's protests. The main indexes of the old continent have returned to show indecision, after starting the last session of the week and of the month with slight falls that consolidate the gains in the month.

Regarding the Ibex35, although the geopolitical situation has not been favorable for the market, the truth is that the national selective has chained its third consecutive month of earnings, where it has advanced more than 1%. Even so, the road that remains to be traveled, to get at the same level as the rest of Europe and the United States, is great.The bullish result in the month is below what was gained in the rest of Europe, located near 3%. The month of November is marked nationally by the elections and the subsequent government pact between PSOE and Podemos.

Going into more detail, MásMóvil shoots up 4.5% and is the most bullish value of the day. Telefónica repeats the uploads already held. The telecommunications company announced at the close of yesterday's session a historic organic restructuring, concentrating the activity in its four large markets and reducing exposure to Latin America. While in today's session Telefónica Brasil has transferred 1,909 telecommunications towers to Telxius, for an amount of 140 million euros. On the other side of the coin, IAG and Grifols tops the falls with cuts greater than 1%.

In the public debt market, the ten-year German bond lowers its profitability to -0.36% while the interest of the Spanish bond offers similar positions yielding to 0.4%. The risk premium amounts to about 75 basis points with respect to German fixed income.

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