Stock Analysis: Commercial agreements boost the Ibex
The selective Spanish is recovering from the falls on Friday, after US and Canadian representatives announced a trade agreement between the US, Mexico and Canada. It is a new version of the Nafta trade pact. After the announcement, the Canadian dollar and the Mexican peso appreciated. Nevertheless, the situation in Italy continues to be a brake on European equities.
Italian bonds extended their decline from last week, dragging European debt down, due to uncertainty over a budget agreement. Brussels does not intend to approve the excess budget deficit proposed by the Italian government last week.
The oil market rose again due to growing concern about a slowdown in US drilling. This situation would reduce the supply market within a few weeks of the sanctions on Iran. Repsol continues to beat annual highs as oil prices increase.
On the opposite side, Siemens Gamesa is not able to stop the fall that has put it back in annual lows after India, one of its largest customers, said it will stop betting on solar energy, to the detriment of the wind.
