Second day of bouncing on the oil market after the collapse on Tuesday which has eased the pressure on investors, who are once again taking positions in equities while waiting for the outcome of the European Council meeting to approve the € 540 billion package agreed last week and, above all, the debate on the creation of a European Recovery Fund
Thus, the IBEX 35 It has advanced 0.4% at the close to 6,746 points, while the German dax It has recovered 1% after being the one that showed the most doubts during the session, the Cac 40 Parisian is up 0.9% and the Eurostoxx 50 0.7%.
In the US, the main Wall Street indices, which ended with sharp rises above 2%, also moved with increases with the Dow Jones up 0.7% in the first bars, the Nasdaq 0.9% and the widest S&P 500 the same.
Regarding the debt market, the Spanish risk premium moderates to 147 basis points, after reaching 160. The yield on the 10-year bond stands at 1.08%. And is that peripheral bonds are also in the spotlight while “the fear that credit rating agencies will lower in the coming weeks the sovereign ratings of countries like Italy and Spain, those affected by the pandemic, have weighed on in recent weeks the price of these assets, “they explain from Link Securities.
The ECB opens up to junk bonds as guarantees to give liquidity to banks
OR. GimenezThe European Central Bank (ECB) has announced this Wednesday night an expansion of the collateral available by banks for their rounds of financing
In this sense, the ECB has had to come back to the rescue not only ensuring that it continues to buy debt, but will continue to do so even if the bonds of these countries lose their investment grade and fall to “junk bonds.”
In Spain, investors focus their attention on the business results season that is starting to pick up speed. Today has been the turn of Bankinter, which has announced a 10% drop in profit after having to provision 107 million euros to deal with the covid-19. Its shares rose sharply more than 2.5% and encouraged the other entities, which also moved with a good tone.
As for oil, the second day of the rebound that allows the benchmark Brent in Europe to recover the $ 21 with subdias of 8% and the Texas $ 15 when shooting another 13%. That after the President of the United States, Donald trump announced yesterday that I had given orders to “destroy” Iranian ships that “harass” to their ships, which translates into a possible increase in tensions in the Gulf.