The main indicator of the Spanish stock market, the Ibex 35, ended the day with a decline of 1.17%, to 7,886.1 points, thus chaining the longest losing streak in its history by adding 11 negative sessions. The selective ends August with losses of 3.33%.
Responsible for the fall on Wednesday was the inflation data for the euro area. The flash CPI gave a preliminary reading for August of 9.1%, compared to 8.9% previously and higher than the 9% expected. The figure puts more pressure on the European Central Bank ahead of their meeting on September 8. The voices that point to a rise in interest rates of 75 basis points, compared to the 50 basis points announced by the agency and expected by the market, are growing strongly.
The figures of the manufacturing industry of China which fell again in August, to 49.4 points. Of course, they fell to a lesser extent than in July when it closed at 49 points. In addition, they were higher than the 49.2 points expected by the consensus and some analysts estimated a drop to 48.5 points. However, they continue below 50 points, the barrier that marks the difference between contraction and expansion.
Gazprom stopped gas pumping Germanyand therefore to Europathrough the pipeline Nord Stream. The cut will last until September 3 for “maintenance work” in which the German Siemens will participate, as explained by the Russian state consortium.
The umpteenth cut occurs after learning that the European Union close to the goal of filling its gas stores 80% to guarantee the maximum possible supply in autumn and winter. Brussels fear that Moscow completely turn off the faucet, while the commodity is trading at all-time highs.
The euro came to lose parity against dollar after knowing the inflation data, but at the close of the Ibex 35 it was trading above said barrier, up to 1,005 dollars, thanks to advances of 0.5%. The libra yes it continued in red, about 1.16 units of dollar. In the debt market, sovereign bonds also traded for most of the session in the red, but returned to see. The 10-year Spanish bond yield was at 2.7% at the same time with the risk premium at 119 basis points. The return required to the German ‘bund’ stood at 1.5%. The interest of the US bond to 10 years was placed at 3.1%.
Oil registered falls of x% at the end of the Ibex 35 session. The barrel of the Brentthe most internationally relevant, was exchanged for 96.5 dollars and the West Texas, a reference in the United States, was paid at 90 dollars. The oro it was worth $1,730 an ounce at the same time. In the crypto market, the bitcoin He lost $20,000.