The Ibex-35 recovers the 7,000 with the impulse of Merlin, IAG and the bank

Second consecutive day of earnings on the Ibex-35. The Spanish selective ended the day with an advance of 0.67%, to give a final change above the 7,000 points he lost last week. The indicator showed at closing 7,021.60 points.

This result was possible with the upward closure of 23 of its components, led by Merlin Properties, which shot up almost 10%, amid rumors of a possible corporate operation. This was followed by a strong rebound from IAG, which added more than 6%. The airline’s rise was extensive to almost all other values ​​in the tourism sector, but with greater discretion. Thus, Meliá ended the day with a revaluation of 2.8%, while Aena gained around 2.5%.

The banking sector, after the intense momentum recorded on Monday, did much of its part to make possible another upside close on the Ibex-35. In this way, Sabadell, CaixaBank and Santander advanced more than three percentage points. BBVA, meanwhile, scored 1.87%. Bankia and Bankinter lagged a little, adding 0.59% and 0.13%, respectively. With the increases of the two days that we have carried out this week, the banking actions compensate in part for the heavy losses that they suffered the previous week, when they carried out the presentation of their accounts in the second quarter so badly.

Among the bullish values, it was also very relevant that Repsol ended the day with gains of 3.3%, while Telefónica advanced 2.3%.

In negative, Enagás was the worst, with a decrease of 1.99%. Amadeus, the exception within tourism values, meanwhile, fell 1.90%. Cellnex, Siemens Gamesa and Endesa also closed with falls of more than one percentage point. Immediately after, Iberdrola, which fell 0.8%. It was not a good day, therefore, for the actions of the electricity companies.

In the rest of the Old Continent, mixed behavior. The worst of all was the German Dax, which was down 0.36%. Meanwhile, the British Ftse 100 ended practically flat. The French Cac 40, meanwhile, scored 0.28%, while the PSI-20 in Lisbon rose 0.73%. The one who signed his best behavior was the Ftse Mib in Milan, which gained 1.21%.

On Wall Street, at the close of the European session, the indicators registered mixed behavior. After several days with the Nasdaq leading the gains, the collection of profits was imposed on the technological indicator, which fell by around 0.10% after the ringing of the bell in the Old Continent. The Dow Jones, for its part, was pointing around 0.4%, and the S&P 500 gained 0.10%.

This evolution in a context in which, according to Susan Joho, economist at Julius Baer, ​​the latest economic data show recoveries at very different rates depending on the geography. In this way, she affirms that the speed of the Chinese recovery is faster than expected, while she describes the evolution of Europe as “promising”, although somewhat slower. As for the United States, it observes mixed signs, with the high incidence of the covid-19 pandemic increasing uncertainty.

In the raw materials market, new increases in the price of crude oil. The barrel of Brent, a benchmark in Europe, was down 0.44% at the end of the European session, to exceed $ 44. The barrel of West Texas, the benchmark in the United States, gained 1.44%, up to $ 41.60.

The price of gold, meanwhile, was another 1.4%, to stand at $ 1,992 an ounce.

In the debt market, Spain’s risk premium narrowed around 1.5%, to be below 85 basis points. The yield on the Spanish 10-year bond fell sharply from 0.33% in yesterday’s session to 0.28%. Interest in the 10-year German security also fell: from -0.52% to -0.56%.

The yield on the 10-year American security also decreased: from 0.56% to 0.52%.

Precisely in the fall of the yields of the bonds could reside the reason why the titles linked to the ‘utilities’ fell so much, whose behavior is usually the inverse of that of the yield of the public debt.


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