Fri. Aug 23rd, 2019

The Ibex closes on the rise driven by business contacts

El Ibex cierra al alza impulsado por los contactos comerciales entre China y EE.UU.

The IBEX 35 closed on Monday with increases, extended to other international markets, with optimism for the resumption of trade talks between China Y U.S this week.

Growing tensions between the two largest economies in the world have cost both countries billions of dollars and have caused turbulence in global financial markets.

The two countries are now seeking agreement before the deadline of March 1, when US tariffs are expected to increase from 10 to 25 percent. to Chinese imports worth 200,000 million dollars.


Other factors kept investor watch high, such as the Brexit process.

The European Union negotiator for Brexit, Michel Barnier, said on Monday that the British Prime Minister, Theresa May, should support a permanent customs union with the bloc, as proposed by the opposition Labor Party, to break the 'impasse' over its close divorce.

In this context, the Ibex-35 closed with an advance of 0.9 percent, to 8,936.4 points, while the index of large European FTSE Eurofirst 300 added 0.83 percent to 1,422.18 points.

The bench

The banking sector saw increases of more than one percent for Santander and BBVA, while Bankia added 1.33 percent and CaixaBank was the best value with an advance of almost 2.5 percent.

Among the other large stocks, Inditex gave support with a 1.74 percent rise, while Telefonica scored 0.57 percent and oil company Repsol added 0.16 percent.

Among the handful of falls was the insurance company Mapfre, with a decrease of 0.83 percent after a recommendation cut by Bank of America Merrill Lynch analysts.

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