October 22, 2020

The Ibex regains momentum after the doubts of previous days – La Provincia

The Ibex 35 started the session on Friday with a rise of 0.69%, which led the selective to stand at 9,236.5 integers at 9.01 hours, waiting for Moody's to examine the rating assigned to Spain, currently located in 'Baa1' with a 'stable' perspective.

In this way, the entity becomes the first to evaluate thesolvency of the Spanish sovereign debtafter the result of the elections of November 10 and the announcement of the pre-agreement to form a coalition government between the PSOE and United We can.

In this context, the selective Madrid opened in green and defended again the psychological level of 9,200 points, in a scenario marked by the exploration of roads that facilitate the investiture of Pedro Sánchez and waiting to know the structure of the Government and its composition .

Thus, in the first stages of the session, the greatest promotions were for ArcelorMittal (+ 2.1%), Caixabank (+ 1.3%), Sabadell (+ 1.1%), Santander (+ 1%), BBVA (+ 1%), ACS (+ 0.9%), Mediaset (+ 0.9%) and Repsol (+ 0.9%), while on the opposite side were only Red Electrica Corporación (-0.3 %), Viscofan (-0.2%) and Enagas (-0.04%).

For its part,the risk premium offered to investors for Spanish bondswith a ten-year maturity compared to its German counterparts, it has expanded to 80.60 basis points during the week, compared to 67.40 basis points last Friday, before the election, which is a rebound of 23 %.

Likewise, the profitability offered in the secondary markets for Spanish ten-year bonds has increased this week to 0.465% from 0.400% last Friday. The rest of European stock markets opened with 0.6% increases in the case of Frankfurt and Paris, while Londrse rose 0.2%.

On the other hand, the price of a barrel of Brent quality oil, a reference for the Old Continent, was priced at $ 62, while Texas stood at $ 56. Finally, the price of the euro against the dollar stood at 1.1020 'green notes'.

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