Sales predominate this Wednesday on the European stock exchanges from the first hour . The pressure of government bonds , with their interest rates rising, and oil and gas prices ( which have reached highs ), among other raw materials, have led equities to register sharp declines. Wall Street has opened with falls close to 1% . On this side of the ‘pond’ the losses are greater.
The EuroStoxx 50 (taken as a reference in the Old Continent) loses one and a half percentage points and risks 4,000 points (intraday minimum: 3,965.2). Joan Cabrero, technical analyst at Ecotrader , highlights the risk that the continental selective will fall to 3,800 integers (5%) in the short term.
The Spanish stock market does not escape the ‘red numbers’. The Ibex 35 not only loses the 8,900 points over which it ended yesterday, but also falls below 8,800 units (intraday minimum: 8,721.5).
The national indicator may end up falling in the short term towards 8,550 integers (2.5%) while it is not able to beat the resistance of 9,000-9,055 points (more than 3% above), according to the advisor of our portal premium .
Siemens Gamesa (-3.3%) stands out in Ibex sales since the opening. In fact, it has marked minimums since August 2020. Although in the lower part of the table it is surpassed by several tourist firms: IAG (-3.9%) and Meliá (-3.8%). They also highlight the strong falls of a ‘heavyweight’ like Inditex, which exceed three percentage points. Few companies manage to move on positive terrain.
Bonds, oil, gas …
The European markets continue in “the dynamic of alternating days of rebounding with days of clear selling pressure,” says Sergio Ávila, an analyst at IG Spain.
” The pressure comes from the bond market, ” adds this expert. The interest on the US 10-year bond (the T-Note ) has reached + 1.57% and that of the 30-year US ‘paper’ has climbed to its highest since June .
On this side of the Atlantic, the 10-year German bund has already rented high since June ( at -0.17% ) and the Spanish bond has already reached + 0.5%, the highest since May.
The raw materials market is also taking a large part of the attention, with a special focus on oil prices (European Brent even reaches $ 83 a barrel) and natural gas prices . The latter correct the closure of European stock exchanges after the President of Russia, Vladimir Putin , has assured that his country is willing to help stabilize world energy markets .
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