European stock markets had their worst session since the banking crisis in March. Eurostoxx lost almost 3%, while Dax lost up to 2.57%. On the other hand, the French CAC is also left up to 3.13%; London fell 2.17%; Milan 2.53% and Frankfurt 2.57%. The Ibex 35 also closed this Thursday down 2.12%, placing the selector at 9,285 points, having its worst session since mid-March as US financial institutions like Silicon Valley Bank (SVB) went bankrupt. markets. In addition to the resistance of the US market to employment, the publication of the Federal Reserve minutes, which predicts more interest rate hikes in the coming months, has led investors to fear new increases in money prices. China’s services PMI data for the coming months was also worse than expected. Additionally, the People’s Bank of China has supported the yuan in recent weeks, showing that global growth has suffered.
Selective stabilized from opening with losses of about 1% after meeting the previous day, European market already closed, hard tone of minutes The last monetary policy meeting of the Federal Reserve (Fed) United States of AmericaThat interest rate hikes were stopped at 5-5.25% and that the majority of its members found it appropriate or acceptable to keep the target rate range at this level in order to reduce inflation.
The key to the negotiation, however, has been in the strength of macroeconomic data from the United States, known at the New York Parke opening: ADP’s June employment report noted that nearly half a million new jobs were created in June.Doubling expectations, the services sector (BG) also posted a strong rise in the same month.
After learning about this data pointing to labor market strength, Wall Street indexes opened more than 1% (its main indicator, the Dow Jones, was discounted by 1.4% when the stock market in Europe closed) and the US economy has been aggressive to the Fed longer than investors expected. will give arguments for maintaining an interest rate policy.
This bearish trend transferred to the selective Spaniards and the rest of Europe, intensifying morning losses until the negotiation resulted in the biggest declines since mid-March last year.
On the European macroeconomic agenda, it was learned this Thursday that retail sales in the euro area in May remained stable at a monthly rate, despite a year-on-year decline of 2.9% (compared to the same month of the previous application).
In Spain, the Public Treasury invested 7,028.55m euros in a medium to long-term debt auction in the expected mid-high range, rewarding investors with higher interest rates and even offering almost 50-year obligations. % according to data published by the Bank of Spain.
The biggest declines in Ibex 35 at session close were IAG (-4.14%); Colonial Estate (-4.1%); Merlin Properties (-4.07%) and Inditex (-3.89%). Banco Santander (-3.08%); Repsol (-2.24%) and BBVA (-1.7%) were the only companies to close positive after adding 0.51%, while Indra added 0.51%.
At the closing hour in the Old Continent, the benchmark price of Brent oil for Europe fell by 1.3% to $75.66 per barrel, while Texas fell by 1.25% to $70.91 a barrel.
In the foreign exchange market, the euro against the dollar stood at 1.0868 ‘green bonds’, while the yield on the Spanish ten-year bond closed at 3.692% after adding almost seventeen basis points for this higher rates perspective. risk premium (difference with German bonds) 107 points.