The Ibex 35 fights to close the week on the rise in the face of extreme volatility but less

The Ibex 35 fights to close the week on the rise in the face of extreme volatility but less

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Volatility in financial markets somewhat loosens, although it remains extreme. Investors begin to digest macrostimuli and million-dollar injections announced by central banks and governments and this, added to the fact that China has lived its second consecutive day without local infections, has given some oxygen, at least for the moment, to the stock markets. The Ibex 35 starts with a rebound of 4.5% to 6,674 points. Its advance is somewhat less than that of the Dax or the Euro Stoxx, which encompasses the European companies with the largest capitalization, since in both cases the rise exceeds 5%.

Within the Spanish selective, the most bullish companies are at this time Aena (+ 19%), manager of Spanish airports, as well as Amadeus (+ 15.8%) and ACS (+ 7%). Among the large stocks, Inditex is the most bullish, with a rise of 5%, which is higher than 3% in Santander, Iberdrola and BBVA. Only Enagas registered a slight drop at this time of 0.4%. The hotel companies, Melia and NH go up on the stock market despite the fact that the Government has imposed the closure of hotels and tourist establishments.

Volatility slows somewhat in financial markets, as reflected by the VIX index or ‘fear’ index, which has gone from touching 80 points to lowering to 64, which is still a very high level that indicates how panic remains in the retina of investors.

Regarding the secondary debt market, the Spanish 10-year bond sees its profitability decrease to 0.75%, which in turn pulls the risk premium down to 103 basis points. The Portuguese falls to 120 points, the Italian to 187 and the Greek falls to 267 basis points.

In the commodity market, mega injections by central banks and measures taken by governments allow the oil recover part of the lost ground in the last days. The barrel of Brent crude, a benchmark in Europe and recovers $ 30 ($ 30.45 at 9:15 am), with an increase of close to 7%; while West Texas light crude oil does so about 8% to $ 27.91. One ounce of gold, one of the quintessential safe-haven assets, is appreciated up to $ 1,517; while the euro advances to $ 1.0812 in its crossing against the greenback.


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