The Spanish stock exchange records strong gains of 1.93%, minutes after the opening, and consolidates the level of 9,200 points, encouraged by the decision of the US and China to stop the imposition of tariffs while negotiating a trade agreement.
Specifically, at 0920 hours, the main national indicator, the IBEX 35, registers 174.90 points, that 1.93%, up to 9,251.40 points, with which the cumulative losses of the year are reduced to 7, 88%.
After closing November with gains of more than 2%, the Spanish stock market has opened December with the same positive tone, encouraged by the decision of the US and China to stop the imposition of new tariffs for a period of 90 days while the two countries have conducted trade negotiations with the aim of reaching an agreement.
This decision has led to gains in most Asian markets, where Tokyo has risen more than 1%, and Shanghai, 2.57%.
In Europe, the main stock exchanges have also opted for strong increases; Milan has opened with an advance of 2.25%; Paris, 2.08%, and London, 1.45%.
The decision adopted this weekend at the G20 summit between the US and China has also contributed to the price of Brent crude – the reference in Europe – starting the week with a 5.8% rebound, to 62.14 Dollars.
Oil also rises after Qatar has announced that it will leave the Organization of the Petroleum Exporting Countries (OPEC) in January.
Just this Thursday, the OPEC meeting is held, which according to experts, could cut crude production.
At the national level, investors will analyze the results of the elections in Andalusia, where the left has lost the majority, and the sum of PP, Ciudadanos and Vox can bring the center and right forces to the government for the first time in history of autonomy.
Back to the national market, where all the IBEX 35 values are trading higher, the strong rise of ArcelorMittal, the world's largest steel producer, which shoots up 6.89%, stands out.
It is followed by Cie Automotive, which earns 4.86%; and Acerinox, 3.68%.
REC is, on the other hand, the lowest value of the IBEX 35, 0.47%.
Of the great values of the IBEX 35, Repsol gains 2.49% after the sharp rise in the price of crude, while Santander revalues 2.44%; BBVA, 2.33%; Inditex, 1.85%; Telefónica, 1.06%; and Iberdrola, 1.03%.
In the continuous market, Duro Felguera stands out by increasing 9.70%, while Reig Jofre drops 4.17%.