September 27, 2020

The Ibex35 drops 0.32% and wants to hold on to 9,500 points

The market is again conditioned by geopolitical details

Once again, the market is again conditioned by geopolitical details. Tomorrow Wednesday, except for an unexpected turn by the unpredictable Donal Trump, the first part of the trade agreement between the United States and China will be signed in Washington, being the beginning of the end of the tariff war.

In today’s session we have known relevant macroeconomic data in both world powers. China has reflected a small recovery in December exports, while the United States has published a 0.2% rise in inflation.

Looking to Europe, the main indexes do not follow the trail of Wall Street or the Asian market, moving cautiously. The EuroStoxx 50, benchmark index in the old continent, moves under its support at 3,772 points. Investors fear the end of the rally experienced in recent weeks. Specifically, the Ibex35 is progressively approaching 9,500, moving away from the 9,600 reached last week. The bank returns to ballast the selective Spanish, where CaixaBank, BBVA and Santander are among the values ​​with the worst performance in today’s session.

In reference to the sovereign debt market, the risk premium continues in the area of ​​70 basis points. The ten-year Spanish bond reduces interest to 0.47%, while German is reduced to -0.17%.


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